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Italian spirits group Campari buys its distributor in France

Reuters

MILAN (Reuters) - Italian spirits group Campari <CPRI.MI> has agreed to buy the distributor of its brand portfolio in France for an enterprise value of 60 million euros (£51.04 million), the company said on Friday.

The acquisition is part of a broader strategy to bring distribution in-house and operate directly in key markets.

Baron Philippe de Rothschild France Distribution (RFD) has been the exclusive distributor of Campari's brands, including Aperol, Campari, Glen Grant and Grand Marnier, in France since 2009. It reported sales of 145.1 million euros in 2018.

The deal is expected to close in the first quarter of 2020, subject to antitrust approval.

(Reporting by Maria Pia Quaglia; Editing by Pravin Char)