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Heaven Hill to buy Gruppo Campari's Carolans and Irish Mist brands

Published 25 July 2017

US-based spirits producer Heaven Hill Brands has agreed to acquire Carolans and Irish Mist brands from Gruppo Campari for $165m.

The deal includes the Carolans Irish Cream and Irish Mist (Irish Mist Liqueur and Irish Mist Whiskey) trademarks, along with inventory and production assets.

The transaction is expected to close in the first week of this august.

Last year, the two brands achieved sales of €34.0m ($39.6m) and CAAP (Contribution after A&P) of €16.3m ($18.9m).

Once the transaction is concluded, Gruppo Campari will continue to distribute the Carolans and Irish Mist brands internationally, outside the US.

Gruppo Campari itself had acquired the two brands in 2010, as part of a larger portfolio which also included Frangelico.

Produced in Ireland from some of the finest ingredients, the Carolans brand is claimed to be one of the second largest selling Irish cream whiskey liqueur around the world.

On the other hand, Irish Mist Liqueur is also said to be the first liqueur to be produced in Ireland which is made by blending Irish whiskey, honey and natural aromatic spices.

Gruppo Campari CEO Bob Kunze-Concewitz said: "The sale of Carolans and Irish Mist is the largest disposal ever completed by the Group. We are very pleased to sign this transaction with Heaven Hill, a prominent spirits company in the US and a perfect fit for Carolans and Irish Mist.

“With this transaction, we continue to streamline our non-strategic portfolio and further increase our focus on our priority spirit brands, particularly in our largest and core US market. Moreover, thanks to this disposal, we can further accelerate in the reduction of our financial indebtedness. Since the beginning of 2016 we have divested non-strategic assets for a total value of approximately €260m."

Heaven Hill Brands president Max Shapira said: "We are delighted to have worked with Gruppo Campari on this acquisition. Carolans and Irish Mist are great historic brands that are highly complementary to our broad portfolio of leading brands.

“We look forward to building on the strong success these brands have achieved both in the US and around the world.”

Image: Gruppo Campari to sell Carolans and Irish Mist brands to Heaven Hill Brands. Photo: Courtesy of HEAVEN HILL BRANDS.