As part of the deal, the two companies will enter into a multi-year exclusive distribution agreement, under which Gruppo Campari will continue to distribute the Carolans and Irish Mist brands in the international markets outside the United States.
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| Irish Mist Whiskey and Carolans Irish Cream |
Carolans and Irish Mist were acquired by Gruppo Campari in 2010 as part of a larger portfolio which also included Frangelico, the key acquisition target. In the fiscal year ended 31 December 2016, Carolans and Irish Mist achieved total net sales of €34m, representing approximately 2% of Gruppo Campari net sales.
Carolans is currently the second-largest selling Irish cream whiskey liqueur in the world, and is produced in Ireland using ingredients including fresh cream, honey and Irish whiskey. Irish Mist Liqueur, the first liqueur to be produced in Ireland, is a blend of Irish whiskey, honey and natural aromatic spices.
Commenting on the news, Max L. Shapira, President of Heaven Hill Brands, said: “We are delighted to have worked with Gruppo Campari on this acquisition. Carolans and Irish Mist are great historic brands that are highly complementary to our broad portfolio of leading brands. We look forward to building on the strong success these brands have achieved both in the US and around the world.”
The deal which is expected to be completed by next month, will include all Carolans Irish Cream and Irish Mist (Irish Mist Liqueur and Irish Mist Whiskey) trademarks, as well as inventory and production assets.
Posted by Steve Rush