Further to the communication of November 15th, 2019, concerning the exclusive negotiations with Baron Philippe de Rothschild S.A. for the acquisition of 100% of the French distributor Baron Philippe de Rothschild France Distribution S.A.S., Campari Group announces the signing of the deal last 20th of December. RFD, a wholly-owned subsidiary of Baron Philippe de Rothschild S.A., is specialized in the distribution of a diversified portfolio of international premium spirit, wine and champagne brands in France. Particularly, RFD has been the exclusive distributor of Campari Group’s brand portfolio, including Aperol, Campari, Glen Grant, Riccadonna and Grand Marnier, for the French market since 2009. Over the years, RFD has successfully developed Campari Group’s brands in France. 

The Enterprise Value of the deal is €60.0 million, subject to customary price adjustments. In 2018 RFD achieved reported sales of €145.1 million (under local GAAP), which includes the net sales of Campari Group owned brands. The deal is expected to close during the first quarter of 2020, subject to customary antitrust approval. The consideration will be financed through available resources and will be paid using cash.

Bob Kunze-Concewitz, Chief Executive Officer: ‘This contemplated acquisition is a key step forward into Campari Group’s long-term growth strategy aimed at continuously strengthening our route-to-market globally. France is a core and high potential market for Campari Group, mainly thanks to our aperitifs business and the newly acquired rhum agricole premium brands Trois Rivières and La Mauny. This deal offers us a unique opportunity to insource RFD’s strong distribution capabilities and therefore operate directly in this market, benefitting from significantly increased critical mass as well as enhanced focus on our core brand portfolio".