Campari adds Grand Marnier to its portfolio of drink brands

March 15, 2016 10:59 AM

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MILAN – Italian spirits maker Campari group has reached a deal to add the French liquor Grand Marnier to its growing portfolio.

Campari said in a statement it has an agreement to buy a 17 percent stake in the family-controlled Societe des Produits Marnier Lapostolle for 8.05 euros a share, a 60 percent premium on Friday's closing price. The deal values the French company at 684 million euros ($760 million).

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