Italy’s Campari Group has committed to buy premium cognac house Courvoisier from Beam Suntory in a landmark deal, according to a Thursday press release from the brand. The purchase price for the acquisition is set at $1.2 billion. An additional payment of $120 million is expected to be payable in 2029 if the net sales target is reached in 2028, potentially giving the acquisition a value of $1.32 billion — the largest deal in Campari Group’s history.
Founded in 1828, Courvoisier is one of France’s top four historical cognac houses, making this a unique opportunity for Campari Group to enter the realm of super-premium cognac. This purchase is in line with Campari Group’s strategy to expand its portfolio of global offerings and improve its luxury offerings in key markets including the U.S. and Asia.
