Drinks firm Campari is set to buy Glen Grant in a multi-million euro deal, reflecting the drink’s popularity in Italy.
The deal is valued at €130 million and will give the Italian drinks group its first foothold into the Scotch whisky category.
The Campari group will gain Glen Grant, Old Smuggler and Braemar Scotch whiskies from Pernod Ricard as part of a series of disposals prescribed by the EU Commission following the acquisition of Allied Domecq.
Glen Grant is the biggest selling whisky in Italy, while blends Old Smuggler and Braemar are present in a number of markets. Old Smuggler holds a significant position in the United States, Argentina and in the Eastern European markets, while Braemar is mostly present in the Eastern European markets and Thailand.
The deal was expected to be signed and sealed in the first quarter of 2006.