Campari Buys Grand Marnier
Gruppo Campari to launch a friendly takeover offer for Société des Produits Marnier Lapostolle S.A., owner of Grand Marnier.
Gruppo Campari has reached an agreement with the controlling family shareholders of SPML for the acquisition of a controlling stake of the company via a Tender Offer, to be launched on the French Stock Exchange market pursuant to the applicable French regulations. Simultaneously, the Group has entered into an agreement with SPML for the exclusive worldwide distribution of the Grand Marnier spirits portfolio.
Excluding the effects of the sale of the real estate property and the related earn-out consideration, the total implied Equity Value for 100% of SPML would be € 684 millionand the total implied Enterprise Value for 100% of SPML would be € 652 million.
SPML is a French spirits company, focussed on manufacturing and selling premium liqueurs. Founded in 1827 the company quickly gained an outstanding reputation for its high quality eaux-de-vie. In 1880, the founder’s descendant Louis-Alexandre Marnier Lapostolle had the idea of showcasing the organoleptic richness of cognacs by combining them with orange, a rare and precious fruit at the time.
Since then, Grand Marnier has been blended from the finest cognacs and essence of wild tropical oranges combined with other ingredients and then aged in oak casks, according to a secret recipe which has remained unchanged since it was created. Grand Marnier is today one of the world’s most recognized and storied spirits brands with a 150-year history. As a key ingredient of many classic cocktails, Grand Marnier enjoys a premium positioning and qualifies as a must have premium brand in cocktail barsthanks to its exceptional quality and international recognition.