DAVIDE CAMPARI-MILANO SPA Milan, June 11, 2015-Gruppo Campari announced today the signing of an agreement for the sale of 100% of the share capital of Enrico Serafino S.r.l. ('Enrico Serafino') to the US company Krause Holdings, Inc.
The deal consideration is € 6.1 million (USD 6.9 million at the current exchange rate) on a cash free / debt free basis. The business sold consists of the Enrico Serafino trademark as well as vineyards, vinification and production plants, inventory and real estate assets.
The closing date of the transaction is expected to be on June 30, 2015.
Moreover, it should be noted that effective from closing Gruppo Campari and Krause Holdings, Inc. will enter into an exclusive distribution agreement according to which Gruppo Campari, through its dedicated Business Unit Wines, will continue to distribute the Enrico Serafino wines portfolio in Italy and the export markets.
Enrico Serafino is a historical winery based in Piedmont, Italy, and is engaged in the wine growing and vinification of still and sparkling wines, including Barolo, Barbaresco, and Alta Langa wines, distributed under the same brand name.
Krause Holdings, Inc. is a diversified holding company owned by Kyle J. Krause. Operating companies owned by Krause Holdings, Inc. include, Kum & Go convenience retail stores, Solar Transport, and a significant portfolio of real estate properties. Mr. Krause and his wife, Sharon Krause, also own U.S. based organic farming operations.
Bob Kunze-Concewitz, Chief Executive Officer - Gruppo Campari: 'The transaction underlines the Gruppo Campari strategy of strengthening its focus on its core high-margin spirits business also via the disposal of non-core assets. Since the beginning of 2015 Gruppo Campari successfully completed the sale of the Limoncetta di Sorrento brand in Italy, for a consideration of € 7.0 million (USD 7.9 million at the transaction date), as well as the Federated Pharmaceutical Division in Jamaica for a consideration of € 13.0 million (USD
14.0 million)'.
Kyle J. Krause, Chief Executive Officer - Krause Holdings, Inc.: 'Enrico Serafino wines represent an excellent opportunity for us to become part of the rich and long history of a winery that was founded by Enrico Serafino in 1878. We intend to build on the heritage of the brand and focus on producing world-class quality wines. I am passionate about Italian wines, especially those from Piedmont, and this acquisition provides a
platform in line with my intent to invest in and farm additional vineyards in the region'.
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FOR FURTHER INFORMATION
Gruppo Campari Investor Relations Chiara Garavini
Tel.: +39 02 6225 330
Email: chiara.garavini@campari.com
Tel. +39 02 6225 832
Email: jing.he@campari.com
Tel.: (515) 457-6266
Email: kristie.bell@kumandgo.com
Tel. : +39 02 6225 206
Email: chiara.bressani@campari.com
Tel. : +39 02 6225 680
Email: enrico.bocedi@campari.com
http://www.camparigroup.com/en/investorhttp://www.camparigroup.com/enhttp://www.youtube.com/campariofficialhttps://twitter.com/GruppoCampari
ABOUT GRUPPO CAMPARI
Davide Campari-Milano S.p.A., together with its affiliates ('Gruppo Campari'), is a major player in the global beverage sector, trading in over 190 nations around the world with leading positions in Europe and the Americas. The Group was founded in 1860 and today is the sixth-largest player worldwide in the premium spirits industry. The Group's portfolio, with over 50 brands, spans spirits, the core business, wines and soft drinks. Internationally-renowned brands include Aperol, Appleton Estate, Campari, Cinzano, SKYY and Wild Turkey. Headquartered in Sesto San Giovanni, Italy, Campari owns 16 plants and 3 wineries worldwide and has its own distribution network in 19 countries. The Group employs around 4,000 people. The shares of the parent company, Davide Campari-Milano S.p.A. (Reuters CPRI.MI - Bloomberg CPR IM), are listed on the Italian Stock Exchange since 2001. For more information: http://www.camparigroup.com
Please enjoy our brands responsibly
ABOUT KRAUSE HOLDINGS, INC.
Krause Holdings, Inc. is a diversified holding company owned and controlled by Kyle J. Krause. It is the parent company of Kum & Go, L.C. which is the fifth largest privately held, company-operated convenience store chain in the United States. Krause Holdings, Inc. is also the parent of Solar Transport which transports and delivers refined petroleum products to retail operators in 19 states throughout the U.S.A. Krause Holdings, Inc. also owns a significant commercial real estate portfolio.
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