The Italian beverage group Campari announced on Wednesday that it is strengthening its position in the United States by acquiring a 15% stake in Howler Head and aiming in the medium term for total control of the banana-flavored bourbon brand launched in 2021. An agreement in this sens has been reached with its owner, Catalyst Spirits, which will receive $15 million in cash for the initial stake, according to Campari. The Italian group will have the option of increasing its share in Howler Head to 100%, through call options that it can exercise from 2025, depending on the brand’s future results.
“Bourbon whiskey is one of the mainstays of our global portfolio and therefore the Howler Head brand is an ideal choice for us.commented Campari CEO Bob Kunze-Concewitz. The brand was launched nationwide in the United States in 2021 and in its first year of operation sold more than 50,000 9-liter cases in the American and Canadian markets, recording a turnover of 6 .7 million. Since the beginning of the year, Howler Head has developed in the United States and Canada and entered the British market in particular. The brand “is on track to achieve significant year-over-year growthCampari commented.
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Founded in 1860, Campari embarked on acquisitions from 1995, transforming itself into a multinational present in more than 190 markets, with a portfolio now comprising more than fifty brands. Campari had thus acquired in May the French brand of flavored liqueur Picon from the British spirits manufacturer Diageo for an amount of 119 million euros.
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