By James Atkinson
Gruppo Campari has announced the successful completion of its acquisition of Lascelles deMercado & Co. Limited, distiller of Appleton and Coruba rum.
In Australia, the brands are currently distributed by Brown-Forman under an agency agreement and they are expected to transition across to Campari shortly.
Campari first announced the transaction in September and the deal has since been accepted by a majority of shareholders.
The Italian company yesterday announced it intends to exercise its right under Jamaica law to acquire all the remaining shares, including from those shareholders who have not accepted the offer.
The purchaser also intends to delist Lascelles shares from the Jamaican Stock Exchange.