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Italian drinks group Campari has agreed to acquire French bitter aperitif brand Picon and related assets from Diageo for around 119 million euros ($125.7 million), Campri said earlier this week.
With this deal the maker of Aperol and Campari bitters strengthens its position in France, the group’s fourth largest market, in line with other recent acquisitions including French rums Trois Rivieres and La Mauny, and Champagne Lallier, they said in a statement.
Campari, which is the sixth largest premium spirits group globally, also widens its brand offering in its core bitter aperitifs category in international markets when Moet Hennessy in making its Moet Garden Spritz aperitif to challenge Aperol Spritz.
Picon is currently available in two versions; Amer Picon Club, an orange based liqueur to be mixed with wine or cocktails, and Amer Picon Biere, to be mixed with beer.
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