Italian spirits company Campari Group has agreed to acquire Bisquit Dubouché et Cie (Bisquit Cognac) from South Africa-based Distell Group for an enterprise value of €52.5m.

Under the deal, Campari will acquire an inventory that includes maturing stock valued at nearly €33m, trademarks and production facilities consisting of warehouses, blending cellars and a bottling plant in France.

“Campari will acquire an inventory that includes maturing stock valued at nearly €33m, trademarks and production facilities.”

Completion of the transaction is subject to customary price adjustment mechanisms, which are expected to take place during Q1 2018.

Campari Group CEO Bob Kunze-Concewitz said: “We are very pleased to have acquired Bisquit Cognac, as it gives us the opportunity to expand our offering into the premium and growing cognac category.

“Thanks to the super premium brand Bisquit Cognac and its strong heritage, we further enhance our premium brands portfolio, driving richer product mix.

“Moreover, we acquire a significant stock of high-quality cognac and take full control of the cognac ageing process, thus enabling brand innovation opportunities in the future.”

The Bisquit Cognac brand offers a wide range of cognacs, including Bisquit VS Classique, Bisquit VSOP, Bisquit Prestige and Bisquit XO.