(Finance) – Campari Group has signed and perfected a agreement with Catalyst Spirits to acquire an initial 15% stake in Howler Head Kentucky Straight Bourbon Whiskey with a natural banana flavor, with a path to total control in the medium term, and concurrently obtain the exclusive rights for the global distribution of the brand.
“Bourbon whiskey represents one of the pillars of our global priority portfolio and therefore the Howler Head brand is an ideal choice for us” – said Bob Kunze-Concewitz, Chief Executive Officer of Campari Group -. “In addition to being a liquid of exceptional quality, the Howler Head brand has built a unique personality and, through its close relationship with UFC, benefits from
a huge audience of fans ready to taste this exceptional bourbon “.
Campari Group has granted the payment of $ 15 million in cash for the initial 15% stake in the brand with a path to total control. Campari Group has the possibility of acquiring 100% of Howler Head through typical call options, based on the achievement of the future results of the brand, which can be exercised starting from 2025. The value of the call options
implies very sustained growth in Howler Head’s sales in volume and value in each of the future phases of the transaction.
Latham & Watkins LLP advised UFC as legal counsel, Pillsbury Winthrop Shaw Pittman LLP advised Catalyst Spirits as legal counsel and Wilk Auslander LLP assisted Campari Group as legal counsel.
(Photo: © Campari)