Campari offloads Villa Les Cèdres

Italian drinks group Campari has completed the sale of historic mansion Villa Les Cèdres in St-Jean Cap Ferrat for €200 million, making it on of the most expensive properties ever sold.

First announced on 1 August, the sale of the luxury property was completed today (31 October) in a sale worth €200m of which Campari will retain €80m.

The house and its botanical gardens were once the property of King Leopold II of Belgium and was acquired by Campari when it bought Société des Produits Marnier-Lapostolle – the makers of Grand Marnier – in 2016.

Fifty-two million six-hundred and ninety thousand euros of that €80m will now be paid to the former shareholders of Marnier-Lapostolle as agreed at the time of the sale.

Campari has been on the acquisition trail recently, buying rhum agricole brands Trois Rivières and La Mauny as well as Mezcal brand Montelobos as it pursues growth in the US.