Davide Campari-Milano N.V. acquired Picon Brand and Related Assets of Diageo plc for approximately 120 million.
May 09, 2022
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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.
Davide Campari-Milano N.V. is one of the Italian's leading producers and distributors of spirits and wines. The activity is organized around three product families:
- spirits: rhums, vodkas, tequilas, whiskies, liqueurs, etc. (Campari, SKYY Vodka, Cynar, Aperol, Cabo Wabo, CampariSoda, Glen Grant, Ouzo 12, X-Rated, Dreher, Old Eight and Drury's brands);
- wines: Liebfraumilch, Cinzano, Mondoro, Riccadonna, Sella & Mosca and Teruzzi & Puthod brands;
- non-alcoholic beverages: aperitifs (Crodino brand), sodas (LemonSoda, OranSoda, PelmoSoda and TonicSoda) and mineral water (Crodo).
At the end of 2023, the group had 22 production sites worldwide.
Net sales are distributed geographically as follows: Southern Europe/Middle East/Africa (27.6%), Americas (43.9%), Northern Europe/Central Europe/Eastern Europe (20.6%) and Asia/Pacific (7.9%).