Campari buys Distell’s Bisquit Cognac

BUSINESS
Italy-based Gruppo Campari said it has signed an agreement to buy cognac brand Bisquit from South Africa’s Distell Group for €52.5m ($62m). Commenting on the acquisition, Campari CEO Bob Kunze-Concewitz said, “We are very pleased to have acquired Bisquit Cognac, as it gives us the opportunity to expand our offering into the premium and growing cognac category.” Continuing he said, “From a distribution standpoint we further strengthen our route-to-market, particularly in our recently established South African market, with potential upsides to further develop the newly acquired business internationally, particularly in US and China, the key regions for the premium cognac category. Moreover we further increase our exposure to the premium on-premise distribution channel, across both developed