Campari has acquired a minority stake in company behind scotch whisky brand Bunnahabhain.
The Aperol Spritz owner has paid £69.9m in return for a 14.6% stake in Capevin, the holding company that owns distiller CVH Spirits.
Alongside Bunnahabhain, CVH Spirits also owns scotch whisky brands Tobermory, Deanston, Scottish Leader and Black Bottle.
Campari was already responsible for distributing CVH Spirits’ portfolio in France, Morocco and South Korea.
The transaction was paid for using existing cash reserves, Campari said.
To “protect” its minority investment, Dutch-headquartered Campari said it would exercise its right to appoint a member to the board of CVH Spirits.
Previously, CVH Spirits was part of Distell, the South African drinks business acquired by Heineken in 2023.
The M&A is Campari’s first since striking a deal to acquire French cognac brand Courvoisier from Suntory Global Spirits in December last year.
The $1.2bn (then-£950m) deal was Campari’s biggest ever piece of M&A, and would make cognac “the fourth pillar” of its global business, alongside apertifs, tequila and bourbon, Campari said at the time.
Campari owns the Glen Grant scotch brand, but is more heavily weighted towards US whiskey, with Wild Turkey among its “global priority” brands. It also owns Wilderness Trail.
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