Campari completes acquisition of Courvoisier Cognac

The spirits group purchases Beam Holdings France, now renamed Courvoisier Holdings France, for $1.17 billion
Campari completes acquisition of Courvoisier Cognac

Italy’s spirits giant Campari Group has announced the completion of the acquisition of Beam Holdings France, the owner of the Courvoisier brand. The acquisition was completed in line with the agreement made in December last year, according to FoodBev magazine. In February, Campari struck a deal with Beam Suntory to purchase Beam Holdings France (now renamed Courvoisier Holdings France) for $1.17 billion.

The book value of maturing inventory, as of 30 April 2024, was estimated at $410 million, and this amount was included in the final purchase price. Campari Group will also pay an estimated $30 million for finished goods in the seller’s in-market companies, according to a stock transfer agreement.

An earn-out of up to $120 million may be paid in 2029, depending on whether the net sales targets for the full year 2028 are achieved. If the earn-out is paid, the total enterprise value would be $1.32 billion. The purchase price and finished goods stock are still subject to standard price adjustment mechanisms, which will be calculated over the next 90 days.

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