Campari buys Bisquit Cognac brand from Distell for €52.5m

By Pepi Sappal |

Biscquit

Selling the Bisquit brand will allow Distell to focus its efforts on ‘accelerating growth in key product categories’.

Africa’s premium wine and spirits producer Distell has agreed to sell its Bisquit Cognac business to the Campari Group for €52.5m ($62.3m).

The brand sales includes a classic range of Cognac offerings, including Bisquit V.S. Classique, Bisquit V.S.O.P., Bisquit Prestige and Bisquit X.O., along with rare collections and limited editions.

Under the terms of the agreement, the Campari Group will acquire all the shares in Bisquit, as well as existing stock, maturing inventory and trademarks, including production facilities comprising warehouses, blending cellars and a bottling plant, confirmed Distell.

According to Distell’s Managing Director Richard Rushton, the Bisquit brand remains strong and well positioned for long-term growth. He said the decision to sell the business is driven by its ‘strategic intent’ to focus on its core portfolio that supports the company’s growth ambitions.

FOCUSED GROWTH EFFORTS

“The sale will ensure the assets within our portfolio align with our strategy and generate long-term shareholder value,” stated Rushton. “The disposal of Bisquit will allow us to focus our efforts on accelerating our growth in key product categories and markets where we believe we can deliver more attractive returns and deliver on our growth aspirations.”

The deal is expected to be sealed during the first quarter of 2018, added Distell.

Middle East

JEDCO launches multi-category tenders at KAIA T1

Jeddah Airports Company (JEDCO KSA) has issued a request for proposals for several...

International

Alcohol insights: Conversion up, spend down in Q4

Conversion of visitors in the alcohol category in duty free has risen to 54% in Q4 2023,...

Asia & Pacific

Heinemann Asia Pacific makes breakthrough in New Zealand at AKL

Heinemann Asia Pacific is set to enter the New Zealand market with three new retail concepts at...

image description

In the Magazine

TRBusiness Magazine is free to access. Read the latest issue now.

E-mail this link to a friend