By Andy Young

Gruppo Campari has said that it has reached an agreement with the family-owned Grand Marnier group for what it has called a "friendly takeover".

Campari said that it had offered the family shareholders of Société des Produits Marnier Lapostolle (SPML) €8.05 per share, giving the company a total equity value of €684 million.

Bob Kunze-Concewitz, Gruppo Campari's chief executive officer, said: "We are delighted to consolidate this alliance between the SPML controlling family shareholders and Gruppo Campari. Grand Marnier is a French icon, with a rich 150-year history for which we have profound respect.

“This acquisition represents a perfect fit with our external growth strategy in terms of brand profile, distribution and financial framework. With Grand Marnier, we add a premium and distinctive brand to our Global Priorities portfolio, thus driving richer product mix, and we further consolidate our position as the leading purveyor of premium liqueurs and bitter specialties worldwide."

He added: "Grand Marnier will benefit from the strategic focus of the strengthened Gruppo Campari RTM as a key Brand within our Global Priorities portfolio across all markets. By acquiring Grand Marnier, we continue leveraging our acquisition framework in a very disciplined and consistent manner also from a financial view point as we consolidate a high-margin brand and cash generative business, expected to determine an immediate accretive effect on the existing business."

François de Gasperis, SPML chairman, said: “Thanks to the strength of its distribution system, Campari will develop and reinforce the Grand Marnier brand in the global market.”

The acquisition will enable Campari to further its premium spirits offering and Kunze-Concewitz said the company would be adding more brands to its portfolio in the future.

“This is my 15th acquisition since becoming CEO," he said. "It won’t be my last."

The Shout Team

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