ny Gruppo Campari has agreed to buy Canadian whisky maker Forty Creek Distillery for €134 million (CAN$185 million).Its flagship brand Forty Creek Whisky is the fastest growing brand in the Canadian whisky category and is well positioned in the USA, one of the Group’s key markets.
Jean Jacques Dubau, managing director for Campari in North America said that the Group are "absolutely delighted to announce today the acquisition of Forty Creek Distillery, producer of the award winning Forty Creek range of premium Canadian whiskies."
"Through this acquisition we enter the very large and appealing Canadian Whisky category, thus premiumizing our brand portfolio, driving a richer product mix and further leveraging the revival of brown spirits.
Moreover, integrating this business will enable us to internalize key activities in the Canadian market as well as position us for further growth in our core US market,” he said.
John Hall, founder of Forty Creek, one of Canada’s largest independent distillers, says he spent seven months searching for a company with the resources to take Forty Creek global, but whose interests and business models aligned with his own.
Hall will remain on as chairman and whisky maker at the company, according to the deal.
He said: “Today’s deal represents a milestone for myself and the entire Forty Creek team. I believe this opportunity will further support Forty Creek’s vision to produce unique, quality, handcrafted, Canadian-made spirits. Campari has the global ability to take Forty Creek to the next level
Campari say the all-cash deal is expected to close 2 June.
