Just deserts: SPLM's flagship Grand Manier is the star ingredient in crêpe Suzette.
Italy's Gruppo Campari has agreed to buy the Grand Manier group in a move that gives the French distiller an equity value of €684m.
Gruppo Campari said yesterday it had reached an agreement with the controlling family shareholders of Société des Produits Marnier Lapostolle, offering them €8.05 per share in cash - a 60.4 per cent premium over Friday's close.
The offer includes €80m upfront payment for the planned sale of an estate in St Jean Cap Ferrat, in the south of France, which Campari will recover once the property is sold. SPML shareholders stand to receive the difference, in effect receiving the full value of the sale of the property.
The aquisition will add to Campari's expanding portfolio of well-known brands as classic cocktails enjoy a renaissance. Campari has grown to become the world's 11th-largest spirits maker in 2014, with brands such as Wild Turkey and Cinzano.
However, that gives only a 1 per cent share of the market compared with 21 per cent for the industry's two dominant distillers - the UK's Diageo and Pernod Ricard of France.
Fazit: Campari schluckt Grand Manier.