Gruppo Campari sells the Chilean Lapostolle winery for € 30.0 million confirming its commitment to fully exit the still wine business

Gruppo Campari sells the Chilean Lapostolle winery for € 30.0 million confirming its commitment to fully exit the still wine business

 

Milan, December 24, 2016-Gruppo Campari announced today the signing of an agreement to dispose of the Lapostolle wine business in Chile, via the sale of Marnier Investissments S.A. to Alexandra Marnier Lapostolle, acting on her own behalf and on behalf of the winery’s local management team. 

The enterprise value is € 30.0 million which includes a net financial position of € 23.3 million. The sold business consists of the Chilean wines and pisco, under the brand ‘Lapostolle’, other brands as well as the vineyards, vinification and production plants, inventory, real estate assets and the hospitality operations in Chile ‘Lapostolle Residence’. 

In the fiscal year ended 31 December 2015, Marnier Chile S.A. registered consolidated revenues of € 13.6 million (CLP 9,843.2 million) and EBITDA of € 1.8 million (CLP 1,336.6 million). 

The overall deal consideration corresponds to a historic EBITDA multiple of 16.3 times. 

The closing of the transaction is expected within two months

The Lapostolle winery, located in the Santa Cruz region, was founded in 1994 by Alexandra Marnier Lapostolle. Today, the winery owns 370 hectares in three different vineyards and has a portfolio of premium wines spreading over Sauvignon Blanc, Chardonnay, Cabernet Sauvignon, Merlot, Carmenère and Syrah. Distributed in more than 60 countries around the world, the Lapostolle portfolio includes multi-award winning wines such as Clos Apalta 2005, ranked first in the Top 100 of Wine Spectator in 2008. 

Bob Kunze-Concewitz, Chief Executive Officer-Gruppo Campari: ‘The disposal of the Chilean wine business, which entered into Gruppo Campari’s perimeter in the context of the Grand Marnier acquisition, follows the sale of the Italian still wine business completed a few days ago. With this transaction Gruppo Campari confirms its commitment to fully exit the still wine business, continue to streamline its non-core activities and increase its focus on the core spirits business. Since the beginning of 2016 we have divested non-core assets for a total value of € 96 million.’. 

Publishing date: 
24 Dec 2016
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Last updated Dec 27 2016