Gruppo Campari, the maker of aperitif, announced this week that it had bought controlling interest in Lascelles deMercado, maker of Appleton Jamaica Rums, from CL Financial Ltd.
Campari takes over CL Financial’s 81.4% share and will buy the remaining shares by year end. The total deal is worth $414.8 million and is expected to lead to a profit from next year.
This is Campari’s third biggest acquisition. In 2009, it bought Wild Turkey from Pernod Richard SA, and Skyy Spirits in 2001.
Lascelles deMercado has the largest stock of aged rums in the world – Appleton Jamaica Rum, which is distributed by J. Wray & Nephew, a subsidiary company. DeMercado was formed in 1825.
It’ll be interesting to see what impact, if any, the sale will have on the local market. Other distillers, like Worthy Park Estate and Hampden Estate, producers of bulk rum for the European market, have expanded into the lucrative white rum market with Rum Bar Rum and Rum Fire White Overproof respectively. Hampden’s Rum Fire, which was launched in March last year was awarded its first gold medal at this year’s International Wine & Spirits Competition.
Have a wonderful weekend Marcia 🙂 I am just back from a short trip!
Thanks, Arti. Love your food post!
This reminds me of the song that goes, 95 bottles of beer on the walls….You know the one?Over 400 million? That’s a nice chunka change.
I’m curious how much rum in total Jamaica makes. Any idea??
Yes, I do know that one.
Actually, they got it for a steal! The previous owners paid $750 million about four years ago, I think.
We have the capacity to produce 50 million litres annually, not sure if we are. A lot of it is sold overseas under different labels. Appleton is the largest and best known distillery but there are about 5 or 6 others.
Yum, when I finally get to Jamaica one of these days I will definitely be trying some out! Love testing out local flavors!
Hope you get a chance to do that soon, Jess!
Oh, I wanna taste those rums.
and I am interested with that Appleton Jamaica Rum!
Sounds really good.
Hope they don’t bury the business with their own agenda… 😉
Hope not!
Well, you’ll definitely have to take the tour when you’re in Jamaica or better yet, check out Campari — they might have started distributing them.