Campari Expands Portfolio with $1.2 Billion Courvoisier Cognac Acquisition

Italian spirits company Campari has agreed to acquire French cognac house Courvoisier from Beam Suntory for $1.2 billion, marking Campari's largest acquisition to date. The purchase of Courvoisier, one of the top four cognac brands, will strengthen Campari's presence in the United States and offer growth potential in the Asia Pacific region, particularly China. Campari aims to become a more serious contender to spirits giants Diageo and Pernod Ricard and expects the acquisition to boost its net sales by around 9%. The deal is expected to close next year and will be funded through a mix of debt, cash, and equity.