Home Business Campari: completes the purchase of 70% of Wilderness Trail Distillery for $424.7 million

Campari: completes the purchase of 70% of Wilderness Trail Distillery for $424.7 million

by admin
Campari: completes the purchase of 70% of Wilderness Trail Distillery for $424.7 million

Campari Group has completed the acquisition of 70% of the US Wilderness Trail Distillery, specialized in the production of bourbon and rye whiskey, according to the terms communicated on 31 October 2022.

The consideration paid was $424.7 million (€405.8 million at today’s exchange rate) for the initial 70% stake, inclusive of price adjustments attributable to cash and net working capital. The corresponding enterprise value for 100% of the capital is equal to 600 million dollars (€573.4 million), on a cash-free or debt-free basis.

Campari Group will acquire the remaining 30% of the capital through a call/put option exercisable in 2031.

To finance the acquisition, the Company (through its US subsidiary Campari America) signed a bank loan on November 30, 2022 for a total amount of USD 420 million, with a floating rate, an amortization schedule and final maturity on December 6, 2027 .

The loan was granted by a group of leading financial institutions made up of Bank of America, BNP Paribas (Italian branch), Crédit Agricole Corporate and Investment Bank (Milan branch) and Cassa Depositi e Prestiti.

See also  Light and gas bills: here are the moves of the Antitrust on the free market

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy