Campari Acquires Bisquit Cognac For $62 MillionDecember 20, 2017
Campari has made a move in the Cognac category by agreeing to acquire the Bisquit brand from South Africa’s Distell for about $62 million. Founded in 1819 by Alexander Bisquit, the brand is expected to achieve pro-forma net sales of about $11 million in Campari’s fiscal 2018, ending next December. Currently Bisquit’s key markets include South Africa, Belgium, Global Travel Retail and Switzerland. But Campari CEO Bob Kunze-Concewitz is eyeing U.S. expansion for the future, noting “potential upsides to further develop the newly acquired business internationally, particularly in the U.S. and China, the key regions for the premium Cognac category.” Kunze-Concewitz added that the deal will “further increase our exposure to the premium on-premise distribution channel, across both developed markets and emerging markets.” —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.