On the heels of Gruppo Campari’s April 15 announcement that it’s buying Fratelli Averna, the Italian drinks maker told Reuters it plans more deals this year. Campari says it has about $346 million to invest for 2014, and that it will spend even more on acquisitions in 2015.
Campari is paying about $143 million for Sicilian spirits company Fratelli Averna, which makes the bitters Averna and Braulio. In addition to its eponymous crimson aperitif, Campari includes Aperol, Cinzano, Skyy vodka, Wild Turkey bourbon, Irish Mist whiskey, Caba Wabo tequila, Appleton Estate rum, Cynar and Frangelico.
Gruppo Campari announced in March that would pay $167.8 million to acquire Canada’s Forty Creek Distillery. In addition to its line of premium Canadian whiskies, Forty Creek also produces vodka, brandy, rum and liqueurs.
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