Drinks producer Gruppo Campari has acquired Bulldog London Dry Gin for $55m (£47m).
Gruppo Campari has distributed Bulldog Gin since 2014 through its own distribution network, but has now signed an agreement with to acquire ownership of the brand in 2020.
The deal aims to speed up the growth of Gruppo Campari and Bulldog gin, which launched in 2007. It's now available in 95 countries, with a strong concentration in Europe. Spain, Benelux, the UK, Global Travel Retail and the US are the brand's largest markets.
In 2016, Bulldog Gin achieved net like-for-like sales of €11m (£9.4m), an increase of 22% on 2015.
Bob Kunze-Concewitz, chief executive officer, said: "This deal is an opportunity to consolidate our presence as a key player in the attractive super premium gin category via a super-premium brand with significant growth potential. By gaining full control of Bulldog Gin's marketing, strategy and brand building initiatives, we are strongly positioned to exploit the brand's full potential.
"From a distribution stand point thanks to Bulldog Gin we will further increase our on-premise focus, particularly in the US, where the group is currently strengthening its on-trade capabilities. By acquiring a fast growing, profitable and margin accretive brand, this deal is a perfect fit with Campari's acquisition criteria in terms of type of brands and distribution fit."
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