Campari Acquires Cognac Giant Courvoisier from Beam Suntory in Record-Breaking $1.2 Billion Deal
Campari has agreed acquire Courvoisier for a record-breaking $1.2 billion from Beam Suntory (Photo: Courvoisier/Facebook)
On Thursday, Italian spirits conglomerate Campari announced it had agreed to buy the French cognac brand, Courvoisier, from Beam Suntory for $1.2 billion. This marks the largest deal on record from Campari.
“We are very pleased to acquire a top four historical cognac house, Courvoisier with great latent equity and highly acclaimed expressions,” Campari Chief Executive Bob Kune-Concewitz said in a news release. “The addition of Courvoisier cognac to our portfolio of global priorities is a rare and unique opportunity to expand our premium spirits portfolio and cognac offering.”
Campari claims the acquisition will allow the brand to “build leverage” in “one of the most relevant spirit categories in the U.S.”
The brand also says it hopes the acquisition will help it gain a greater foothold in the Asia-Pacific region. Campari says Courvoisier was already a “strong fit” within the brand’s French portfolio and will increase distilling infrastructure, bottling capacity and provide new relationships with winegrowers in France.
“In what is the biggest deal in Campari Group’s history, Courvoisier will enable a significant step up in the U.S. while also permitting long-term transformational potential in the strategic Asia-Pacific region,” Campari Group Deputy Chief Executive Officer Matteo Fantacchiotti said in the news release. “In addition to acquiring a globally recognized brand with strong premiumization credentials, we have a unique opportunity to expand our cognac production and bottling capacity in France, a core platform of our global supply chain.”
Campari owns numerous major booze brands, including Wild Turkey, SKYY Vodka, Aperol and Grand Marnier. The company additionally hosts a strong liqueur portfolio, featuring offerings like Cynar, Amaro Averna and Ancho Reyes.
In October, Campari acquired American whiskey brand Wilderness Trail in a deal valuing it at $600 million.
In August, Beam Suntory unveiled plans to build a $200 million whisky facility in East Ayrshire, Scotland. Beam Suntory owns scotch brands like Laphroaig, Bowmore and Ardmore and claimed it spent almost twenty years developing the Courvoisier brand.
“We are proud to have nurtured the iconic Courvoisier brand for nearly 20 years, investing in its growth across key global markets and transforming it into a symbol of modern luxury and an industry leader in awards and sustainability,” president and CEO of Beam Suntory Greg Hughes said. “The brand is very well positioned for its next chapter of growth, and we are confident that Campari Group is the right partner to take Courvoisier into the future.”
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