Davide Campari-Milano N.V. (BIT:CPR) acquired Picon Brand and Related Assets of Diageo plc (LSE:DGE) for approximately €120 million on May 10, 2022. The transaction has been funded by cash on hand. For the fiscal year ended June 30, 2021, the Picon brand achieved net sales of €21.5 million.

Davide Campari-Milano N.V. (BIT:CPR) completed the acquisition of Picon Brand and Related Assets of Diageo plc (LSE:DGE) on May 10, 2022. Anne-Caroline Payelle, Alexandre Ancel, and Jeremy Parr of Allen & Overy LLP acted as legal advisor to Davide Campari-Milano N.V. Alex Kay, Jonathan Turnbull, Hubert Segain, Bruno Knadjian, and Sergio Sorinas of Herbert Smith Freehills, Paris and London office acted as legal advisors to Diageo plc in the deal. Centerview Partners acted as a financial advisor to Diageo plc. McDermott, Will & Emery/Carnelutti Studio Legale Associato acted as legal advisor to Davide Campari-Milano N.V.