Campari: divests non-strategic Irish brands.
(CercleFinance.com) - Gruppo Campari said on Monday that it has reached an agreement to sell the Carolans and Irish Mist brands for an enterprise value of 165 million dollars (141.
7 million euros).
The sold business consists of the Carolans Irish Cream and Irish Mist liqueur and whiskey trademarks, as well as inventory and production assets.
Campari says the transaction allows the group to continue to streamline its non-strategic portfolio and further increase focus on priority spirit brands, particularly in their largest and core US market.
Thanks to the disposal, the Milan-based group can also further accelerate the reduction of their financial indebtedness: since the beginning of 2016 Campari has divested non-strategic assets for a total value of approximately 260 million euros.
In 2016, Carolans and Irish Mist achieved total net sales of 34 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
7 million euros).
The sold business consists of the Carolans Irish Cream and Irish Mist liqueur and whiskey trademarks, as well as inventory and production assets.
Campari says the transaction allows the group to continue to streamline its non-strategic portfolio and further increase focus on priority spirit brands, particularly in their largest and core US market.
Thanks to the disposal, the Milan-based group can also further accelerate the reduction of their financial indebtedness: since the beginning of 2016 Campari has divested non-strategic assets for a total value of approximately 260 million euros.
In 2016, Carolans and Irish Mist achieved total net sales of 34 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.