Campari acquires a controlling stake in Lascelles deMercado, becoming a key player in the rum category with the Appleton, Wray & Nephew and Coruba brands.
BREAKING NEWS: Campari has announced an agreement with members of CL Financial Limited to acquire an 81.4% ownership in Lascelles deMercado & Co., a publicly traded holding company based in Kingston, Jamaica.
LdM will comprise the spirits business, led by a leading Jamaican rum range, including Appleton Estate, Appleton Special / White, Wray & Nephew and Coruba. This transaction marks the third largest acquisition in Campari’s history and positions the group as a leading producer of premium rum globally.
Bob Kunze-Concewitz, CEO at Campari commented “The addition of the Appleton, Wray & Nephew and Coruba rum brands as well as a portfolio of local Jamaican brands will help us build our critical mass further in key North American markets, provide a leading market position in Jamaica.”
The acquired business includes an unrivaled portfolio of world-class premium and overproof rums, including Appleton Estate, Appleton Special and White, Wray & Nephew White Overproof, Coruba and a strong portfolio of local brands. During the fiscal year that ended on September 30th, 2011, the rum and spirits portfolio achieved total sales volume of 3.5 million 9 litre cases.