Italian spirit group Campari has reached an agreement to acquire an initial 70% stake in Wilderness Trail Distillery for $420 million, strengthening its bourbon offer.
Under the agreement, the company will be able to acquire the remaining 30% of the premium Kentucky Bourbon and Rye Whiskey producer in 2031.
Bob Kunze-Concewitz, Chief Executive Officer Campari Group: “We are very excited to take a controlling interest in worldclass Wilderness Trail Distillery. By adding the fast-growing super premium Wilderness Trail brand we further expand and premiumise our bourbon offering, priming it to become Campari Group’s second major leg after the aperitif portfolio”.
Shane Baker and Dr. Pat Heist, Co-Founders of Wilderness Trail Distillery: “We are thrilled about our partnership with Campari Group. Premium bourbon and rye whiskies and state-of-the art production facilities coupled with worldwide distribution, first class marketing and expertise across multiple spirit categories provide the perfect foundation for the continued success of the Wilderness Trail brand and ensure it will be enjoyed around the world for years to come. This is a win-win situation for both parties and we are very proud of this partnership and what we can achieve together with our shared vision”.
The transaction, which is subject to customary closing conditions, is expected to close before the end of 2022.