Gruppo Campari, the spirit and wine producer, is set to acquire a controlling stake in Jamaican rum producer Lascelles deMercado in a public tender offer for $414.7m (£261.4m). Gruppo Campari has reached an agreement with Lascelles deMercado’s owners, the CL Financial Limited group of companies, to acquire an 81.4% ownership of the company, whose brands include the Appleton Estate, Wray & Nephew and Coruba brands. Bob Kunze-Concewitz, chief executive, said: ‘With Lascelles deMercado, the award winning distiller of world class premium dark, overproof and gold Jamaican rums, we are once again leveraging our acquisition framework in a very disciplined and consistent manner for future growth. “The addition of the Appleton, Wray & Nephew and Coruba rum brands as well as a portfolio of local Jamaican brands will help us build our critical mass further in key North American markets, provide a leading market position in Jamaica, a major destination in the Caribbean, whilst laying the foundations for future international growth across all major usage occasions of the growing and premiumising rum category. When completed, this acquisition will give a further boost to the internationalisation of Gruppo Campari, further expanding our business outside of Italy, as well as strengthening our largest and most profitable business, the Spirits segment.”

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