Italy's Gruppo Campari buys Odesa winery at USD 18 million

Gruppo Campari, Italy, has concluded a contract on the purchase of 99% of the shares in closed joint stock company Odesa Sparkling Wine Factory from the Overline concern, reads an official report of the Davide Campari-Milano group's parent company.

The deal to be closed at the beginning of 2009 includes purchase of a plant in Odesa with a production capacity of about 15 million bottles a year, and a portfolio of over 16 brands of premium and mass price segments. The winery was estimated at USD 18 million (EUR 12.6 million), and the sum will be paid to the shareholders in cash.  The remaining 1% of the shares remains owned by some unnamed private shareholders. Currently the Gruppo Campari products are being imported in Ukraine.  In March, the group concluded an exclusive contract for the coming three years with the distributor of elite alcohol, Bayadera Import, on the supply to Ukraine of the Cinzano vermouth, and sparkling wine Asti Cinzano. This is already the second purchase of the Ukrainian sparkling wine producer.  Last year, 70% of Ukraine's major winery, the Kyiv factory of Sparkling Wines, was bought by Germany's Henkell & Sohnlein for USD 14 million.