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Campari completes bond-and-shares issue to fund Courvoisier deal

Campari has outlined its €1.2bn ($1.31bn) share-and-bond offer to fund the acquisition of Courvoisier Cognac. The Italian spirits group, controlled by the Garavoglia family through the holding company Lagfin, has placed shares at €9.33 each, generating around €650m. An issue of convertible bonds will raise €550m. When Campari announced its move for Courvoisier in December, the Aperol owner said it would put up $1.2bn, with an extra payment of a maximum of $120m expected to be made in 2029.

Pernod sells Becherovka bitter brand to Maspex

Pernod Ricard is to sell Czech herbal liqueur brand Becherovka to Poland’s Maspex Group for an undisclosed sum. The deal will see the Żubrówka brand owner acquire a production facility along with a warehouse in Karlovy Vary, Czech Republic. It was reported in October that Pernod was working with banking advisers on the idea of offloading the Czech liqueur brand, having acquired it in 1997.

Asahi invests in US non-alc retailer The Zero Proof

Asahi Group Holdings has led a Series A funding round at US non-alcoholic drinks retailer The Zero Proof. Atlanta-based Zero Proof imports and distributes non-alcoholic wine, spirits and cocktails. It also wholesales products to retailers in the US. Group-wide, Asahi wants at least 15% of its sales to be from “non- and low-alcohol” products by 2025.

Source: Pharmaceutical Technology

Suntory Beverage & Food sells Indonesian soft-drinks arm

Suntory Beverage & Food (SBF) has sold its 75% stake in its Indonesian non-alcoholic beverage venture to local partner Garudafood. Suntory Garuda Beverage’s products include the tea brands Mytea and Mounttea, as well as the jelly-based beverage Okky. SBF said it wanted to “focus primarily on the health enrichment category in Indonesia”.