Distell sells Bisquit cognac brand to Campari
Liquor brands group bids farewell to cognac manufacturer to focus on other liquor categories such as brandy
Distell, the liquor brands conglomerate controlled by Remgro, called time on its international cognac market strategy by selling its French subsidiary Bisquit for à52.5m. On Wednesday, it was confirmed that the cognac brand has been snapped up by acquisitive international liquor group Campari — which, aside from its eponymous aperitif brand, holds the Wild Turkey bourbon and Skyy vodka brands. Campari CEO Bob Kunze-Concewitz reckoned there would be potential upside in further developing its new business internationally — especially in the US and China. Under the terms of the sale agreement, Campari will acquire all the shares in Bisquit as well as existing stock, maturing inventory, trademarks and production facilities. The classic range of cognacs includes Bisquit VS Classique, Bisquit VSOP, Bisquit Prestige and Bisquit XO. The deal might surprise Distell shareholders in light of the company’s determined push to increase its international earnings base. Distell — which is one of th...
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