The Italian spirits company Campari has agreed to buy family-owned French company that makes Grand Marnier cognac, as well as wine and Armagnac.
The acquisition price is reportedly $760 million.
Campari also entered into agreement to become the global distributor of the Grand Marnier spirits portfolio, effective July 1. The agreement will remain in place for a period of five and a half years until December 31, 2021. The initial agreement will be renewable for consecutive five year periods after 2021.
Grand Marnier products are enjoying growth as they are used in many of the cocktails common to the mixology movement, especially in America. “As a key ingredient of many classic cocktails, Grand Marnier enjoys a premium positioning and qualifies as a must have premium brand in cocktail bars thanks to its exceptional quality and international recognition,” Campari said in a press release.
The company “perfectly fits Gruppo Campari’s acquisition strategy,” the company said in a press release, as “Grand Marnier is one of the world’s most recognized and storied spirits brands with a 150-year history and a strong presence in premium on-trade outlets.”
The Grand Marnier portfolio includes Grand Marnier Cordon Rouge, Cherry Marnier, Louis Alexandre, Cuvée du Centenaire, Cuvée du Cent Cinquantenaire and Quintessence.