The Japanese company Beam Suntory sold the Courvoisier cognac brand for $1.2 billion, which for the Italian Campari is the largest transaction in the company’s history.
Italian spirits maker Campari has bought French cognac brand Courvoisier. This is indicated on the Campari website.
The Japanese company Beam Suntory sold Courvoisier for $1.2 billion: for Campari, this operation is the largest in history. It is expected to close in 2024.
One of the conditions of the agreement was to reach a certain level of sales. If successful, Campari will pay an additional $120 million in 2029.
55% of Courvoisier cognac sales come from the US market. The purchase of the brand will significantly strengthen Campari’s position in the American market. The Courvoisier acquisition is expected to boost Campari’s total sales by 9%.
Courvoisier was founded in 1828 and is one of the most famous cognac houses in the world. At the end of 2022, Courvoisier sales fell 33%.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
