Campari looking at Asia, U.S. for acquisitions -CEO to paper

FILE PHOTO: Campari CEO Bob Kunze-Concewitz poses during a photo call of “The Legend of Red Hand” short movie in Milan, Italy, January 30, 2018. REUTERS/Massimo Pinca

ROME (Reuters) -Italian drinks group Campari is focused on both Asia and the United States as it presses on with its acquisition strategy and is targeting premium brands, its chief executive was quoted as saying on Monday.

“Yes … Campari has built a structure capable of managing revenues that are higher than our current ones,” CEO Bob Kunze-Concewitz told La Stampa daily in an interview, when asked whether the group would continue with M&A deals.

The group, which already owns brands Aperol, Skyy vodka and Grand Marnier, wants to continue to expand in the high-end segment, Kunze-Concewitz added.

“It is the first time that Asia is mentioned as a possible target market for acquisitions,” Equita analyst Paola Carboni said in a note.

Scouting for acquisitions in Asia would be “consistent with the group’s last few quarters’ increasing commercial and distribution focus on this region,” she added.

Asia, excluding Australia, at present accounts only for 1.5% of Campari’s sales, the Milan-based broker said.

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