Lascelles de Mercado Addition Boosts Campari In First Quarter Despite Organic Sales DeclineMay 13, 2013
Gruppo Campari’s sales increased by 12.9% to €315.2 million ($409m) in the first quarter of 2013, despite a significant drop in organic sales due largely to destocking in Italy, the company’s largest market. Campari’s sales growth was driven by positive results in the Americas (which account for roughly 45% of its business), including 10.8% organic growth and a 60.2% bump from the company’s recent acquisition of Jamaica’s Lascelles deMercado.
In the U.S., which accounts for nearly 20% of Campari’s sales, the company achieved 7.6% organic growth, driven by double-digit advances for the Wild Turkey franchise as well as the continued positive performances of the Skyy range, Espolón and Cabo Wabo Tequilas and the Campari brand. Campari completed its purchase of Lascelles de Mercado in December 2012. The Jamaican company sells roughly 3.5 million cases of spirits and wine annually, with its rum portfolio—led by Appleton—accounting for more than half of its sales.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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