Campari On The Lookout For M&A OpportunitiesFebruary 19, 2021
Yesterday, Campari Group posted results for its 2020 fiscal year, with growth in the U.S. offset by challenges in on-premise focused global markets. In an interview with Reuters, Campari CEO Bob Kunze-Concewitz said that while the pandemic has raised plenty of hurdles for the business, it could also open up some opportunities both for bolt-on deals or a potential transformational merger.
Noting that Tequila is the hottest category in the U.S. spirits market, Kunze-Concewitz said Campari could look to augment its presence in the category—currently including Espolòn and Cabo Wabo—with another brand looking ahead.
He added that Campari has been considering a larger merger with another significant player for a few years, Reuters reported, pointing to its move last year to transition its registered office to the Netherlands, which has put it in a better position to fund acquisitions and mergers both big and small.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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