Davide Campari-Milano N.V. · MIL:CPR
Davide Campari-Milano — Merger or Acquisition (December 2005)
10 slides from Davide Campari-Milano's merger presentation, Dec 23, 2005
Slide 1: Acquisition of Glen Grant
Acquisition of Glen Grant Conference call Milan, 23 December 2005
Slide 2: Deal terms
Deal terms > Campari announces the signing of an agreement for the purchase of the whisky brands Glen Grant, Old Smuggler and Braemar from Pernod Ricard > Moreover, as part of the deal, Campari is acquiring the Glen Grant distillery, located in Rothes, Scotland, and the stock relative to the existin
Slide 3: Malt Scotch whisky – Market overview
Malt Scotch whisky – Market overview > The emergence of new markets and mature markets still showing growth suggest that there are opportunities for single malt Scotch to further expand > Single malt is highly attractive spirits category also in light of the recent M&A activity World spirits market
Slide 4: Glen Grant – Brand overview
Glen Grant – Brand overview > A genuine single malt dating from 1840, with a volume of approximately 350,000 9-liter cases > #2 selling single malt whisky in the world > #1 best selling Scotch whisky in Italy > #2 best selling single malt in Germany > Potential growth opportunities in untapped marke
Slide 5: Glen Grant – Brand overview (cont’d)
Glen Grant – Brand overview (cont’d) > Glen Grant started enjoying a great success in Italy 15 years ago > “Clear colour, pure taste” provides Glen Grant with a clearly different proposition > Broad consumer profile and strong among young consumer between 24 and 44 years old > Very high brand awaren
Slide 6: Glen Grant – Production facility
Glen Grant – Production facility > The whisky is produced at the Glen Grant Distillery, located in Rothes, Scotland > Annual capacity of 5.9m litres of alcohol and dunnage cask store with a capacity of 12,000 barrels > The Glen Grant distillery is ranked # 4 in terms of capacity among malt distiller
Slide 7: Old Smuggler and Braemar - Brand overview
Old Smuggler and Braemar - Brand overview Old Smuggler > A blended Scotch whisky brand created in 1835, sold in a unique and distinctive bottle at an attractive price > A leading player in the US Scotch market > # 2 best selling whisky in Argentina > Strong growth and leading positions in Eastern Eu
Slide 8: Key financials
Key financials Sales > Based on data and representations received from the seller, sales in 2004 for the three brands totalled some € 40 million (pre IAS / IFRS) Stock > The stock associated with the brands (included in the consideration paid) totals approximately € 26 million Capex > Estimated cape
Slide 9: Acquisition rationale and conclusions
Acquisition rationale and conclusions > Further strengthening in the spirits segment > Entrance into the Scotch whisky category of strategic importance in some key geographic areas > Glen Grant has great potential in untapped markets (Latin America, Asia and US) > Among the top four largest distille
Slide 10: For additional information: Investor Relations - Gruppo Campari
For additional information: Investor Relations - Gruppo Campari Phone: +39 02 6225 330; Fax: +39 02 6225 479 E-mail: investor.relations@campari.com; Website: www.campari.com/investors
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