Campari will own 100% of FCD for a purchase price of CAD$185.6 million (€ 120.5 million), when the deal is completed in June 2014.
The acquisition comprises the full portfolio of FCD including stocks (which also includes vodka, brandy, rum and liqueurs) the distillery and manufacturing facilities and a Hospitality Center located in Grimsby, Ontario.
The Italy-headquartered group described the Forty Creek as the “fastest growing brand in the attractive Canadian whisky category in Canada” and said it was also “well positioned in the high potential US market", which is a logistical strength for Campari.
Bob Kunze-Concewitz, chief executive officer of Campari said: ‘With Forty Creek Distillery, producer of the award winning Forty Creek range of premium Canadian whiskies, we are once again leveraging our acquisition framework in a very disciplined and consistent manner for long-term growth. Via the entry to the large and growing Canadian Whisky segment this acquisition further increases our exposure to the highly attractive brown spirits category whilst continuing to enhance our premium portfolio.
“Moreover, the addition of FCD will enable us to further build our critical mass in key North American markets, providing us with a strong market position in Canada and positioning us for further growth in our core US market. At the same time, our international route to market will also enable the Forty Creek whisky brand to grow faster out of its core North American market. Lastly, through this acquisition we will also be able to internalise key activities in the Canadian market.”
John Hall, founder, and Whisky Maker of FCD – who will remain as Chairman of the company - said: "Today’s deal represents a milestone for myself and the entire Forty Creek team. I believe this opportunity will further support Forty Creek’s vision to produce unique, quality, handcrafted, Canadian-made spirits. Campari has the global ability to take Forty Creek to the next level. Introducing customers around the world to my whisky is a dream come true. I am very excited to continue to devote my time to whisky making at Forty Creek distillery, continuing my whisky journey and exploring my passion for additional Forty Creek whisky expressions.”
