Through its wholly owned subsidiary Campari America, it has reached an agreement with Kobrand Corporation which will see Campari pay US$20 million to Kobrand for the buy-back of the portfolio’s distribution rights in the US.
Appleton, Wray & Nephew and Coruba Rum brands, were bought by Gruppo Campari in December 2012 as part of the company’s purchase of the Jamaican company Lascelles deMercado & Co Limited.
Gruppo Campari’s owned distribution of the Lascelles deMercado Brand portfolio is limited to Jamaica and the UK
Gruppo Campari CEO Bob Kunze-Concewitz, said: “This is a key step in the integration process of the Appleton portfolio into our distribution network. It confirms our strong commitment to achieve a swift in-sourcing of the brands with the objective to exploit the brands’ full potential in the key US market.
“Owned distribution will enable greater focus on the acquired business and more efficient brand building activities. Moreover, it will allow us to further leverage our strong distribution capabilities as well as to entirely capture the brand contribution in the highly strategic US market,” said Kunze-Concewitz.
