Campari On The Lookout For M&A OpportunitiesFebruary 19, 2021
Yesterday, Campari Group posted results for its 2020 fiscal year, with growth in the U.S. offset by challenges in on-premise focused global markets. In an interview with Reuters, Campari CEO Bob Kunze-Concewitz said that while the pandemic has raised plenty of hurdles for the business, it could also open up some opportunities both for bolt-on deals or a potential transformational merger.
Noting that Tequila is the hottest category in the U.S. spirits market, Kunze-Concewitz said Campari could look to augment its presence in the category currently including Espolòn and Cabo Wabo with another brand looking ahead.
Is Kendall Jenner s tequila the next billion-dollar Casamigos?
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Alcohol: Courtesy of Brand (4)
Everyone from Dwayne Johnson and Kate Hudson to Conor McGregor is vying to be the next George Clooney in the increasingly crowded field of liquor startups, but real business engagement is key: This isn’t just turn on your Instagram and post a couple of things.
In 2017, George Clooney stole headlines when he sold off then-4-year-old tequila startup Casamigos to an international spirits conglomerate. And while he was hardly the first prominent personality to enter the drinks space, he was now one of the wealthiest: The deal was worth a potential $1 billion $700 million up front with an additional $300 million tied to future performance. Then, in August of 2020, Aviation Gin, in which Ryan Reynolds holds an undisclosed stake, scored a huge payout as well, selling to Diageo in a deal that could net as much as $610 million over 10 years.
Credit: Alyssa Henry / Santo Tequila
It s difficult to imagine anyone having more fun with their job than Guy Fieri. The chef, restaurateur, and Emmy Award-winning television host doesn t simply go through the motions. Whether describing the origins of
molcajete, or just giving you directions down the street, he does so enlisting every ounce of exuberance you d expect out of a 52-year-old man with frosted tips.
So when his beloved industry was faced with unprecedented crisis, Fieri could hardly abide being on the sidelines. At the onset of COVID-19 lockdowns in March 2020, he sprung to action launching the Restaurant Employee Relief Fund. Within weeks he had raised nearly $25 million dollars for colleagues from coast to coast; 60,000 grants were awarded in total.
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