MILAN (Reuters) – Italian spirits group Campari said on Monday it had reached an agreement to buy an initial 70% stake in Wilderness Trail Distillery for $420 million, strengthening its bourbon offer.
“By adding the fast-growing super premium Wilderness Trail brand we further expand and premiumise our bourbon offering, priming it to become Campari Group’s second major leg after the aperitif portfolio”, Chief Executive Bob Kunze-Concewitz said in a statement.
Under the agreement, Campari has an option to buy the remaining 30% of Kentucky-based Wilderness Trail Distillery in 2031.
(Reporting by Elisa Anzolin, editing Federico Maccioni)
