Who is Skyy Spirits and what are the strategic implications of this acquisition?
Skyy Spirits, LLC, based in San Francisco, California, is the owner of the SKYY Vodka brand. SKYY Vodka, invented and launched in the US by Maurice Kanbar in 1992, is one of the fastest growing brands in the premium vodka market, itself one of the most dynamic segments within the spirits industry. In 2003 SKYY Vodka reached total sales of approx. 2 million 9-ltr cases with a compounded annual growth rate (CAGR) of 19% over the last five years. In December 2001 Campari, which had already acquired a minority stake in November 1998, acquired an additional 50% stake in Skyy Spirits, LLC, thereby becoming the company’s controlling shareholder with a 58.9% stake, i.e. the absolute majority. The deal’s value is USD 207.5 million (Euro 233.4 million). This acquisition is a significant step in Campari’s international expansion strategy, particularly in the US, a crucial market for the Group, and further enhances the Group’s presence in the spirits market premium segment with SKYY Vodka, a leadi
