Courvoisier acquired by Campari Group
Context
Davide Campari-Milano N.V. completed the acquisition of 100% of Courvoisier S.A.S. from Beam Suntory. This transaction represents the largest acquisition in Campari's history, significantly strengthening its position in the luxury spirits segment. The strategic rationale for the acquisition is the integration of a world-class Cognac brand that complements Campari’s existing "bitters" and "liqueurs" dominance, particularly for the US and Asian markets. The acquisition allows Campari to internalize a high-margin asset with substantial aging inventory, providing long-term visibility for premium product releases and brand elevated positioning.
By taking control of Courvoisier, Campari Group continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Wilderness Trail Distillery in 2022.
Courvoisier, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 15x–25x.
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Target
Courvoisier is one of the "Big Four" historic Cognac houses, renowned globally for its premium and ultra-premium spirits. Based in Jarnac, the target possesses a comprehensive industrial and heritage footprint, including full production facilities, specialized distillation units, vast aging cellars, and a historic chateau. The business model integrates traditional craftsmanship with modern automated bottling plants and extensive vineyard holdings. Beyond its manufacturing core, Courvoisier serves as a luxury lifestyle brand with a dedicated visitor center, positioning itself at the intersection of high-end French craftsmanship and global spirits retail.
Ent. Value
$1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
4x–10x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (USD)
Other operations with Campari Group
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2022 | CAMPARI GROUP | WILDERNESS TRAIL DISTILLERY | UNITED STATES | Wines & Spirits |
| 03/2016 | CAMPARI GROUP | MARNIER-LAPOSTOLLE | FRANCE | Wines & Spirits |
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REFERENCES
Valuation range: EV $1–10bn
Revenue range: $150–250M
EBITDA range: $50–100M
EV/Revenue range: 4x - 10x
EV/EBITDA range: 15x - 25x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Courvoisier by Campari Group are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
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