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Campari Group takes controlling stake in Ancho Reyes, Casa Montelobos brands

Davide Campari-Milano SpA, better known as the Campari Group, acquired a 51% controlling interest in Licorera Ancho Reyes y CIA S.A.P.I. de CV and Casa Montelobos S.A.P.I. de CV for an overall consideration of $35.7 million, or about €32.7 million.

Ancho Reyes and Casa Montelobos own the Ancho Reyes spicy liqueur and Montelobos mezcal brands, respectively.

The transaction will be funded through available sources and will be paid in cash, Campari said. The scope of the deal includes the brands, intellectual property and related inventories of the two businesses.

In 2018, 66.4% of combined sales of the two brands were from the U.S., with Mexico, the U.K. and other international markets making up the rest of net sales. In the same year, the two brands posted joint net sales of around €6 million, or about $7 million, before any distribution synergies. The brands reported an overall compound annual growth rate of 53.7% between 2016 and 2018.

Campari Group CEO Bob Kunze-Concewitz said the move will let the company add new products with a strong international potential to its portfolio.

The deal is expected to close by the end of this year.