Campari acquisition declared “good fit”

Gruppo Campari’s CEO, Bob Kunze-Concewitz, stressed the geographical importance of the group’s acquisition of Lascelles deMercado.

Speaking during a press conference call, Kunze-Concewitz (pictured) reiterated his original statement saying that the deal was primarily a means of strengthening “critical mass” in markets.

The main focus for now will remain on the Americas, particularly the US, Canada and Mexico, markets which currently account for over 60% of the distillery’s exports.

Kunze-Concewitz added that Appleton Estate “is a leading brand in the Canadian market and in the US the portfolio is growing two to three times faster than the overall (rum) category.”

Although geography was stressed as the main driver, Kunze-Concewitz did say that Campari’s newly acquired portfolio was a good fit for the “dynamic” rum market.

He said: “We have entered a large and very dynamic category. Market conditions in Europe are subdued but rum has maintained a good momentum.

“Also there is a swing to darker, spiced, more aged and more premium rums and we are well placed with this portfolio.”

The importance of the Americas was brought up consistently throughout the discussion but Kunze-Concewitz did add that he thought there was room for significant development of the brands and a greater push into Europe in time.

“There’s a lot of up-side potential to develop the brands in the rest of the world, which is something we will do in due course,” he stated.