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Allen & Overy advises Campari Group on the acquisition of Picon

Allen & Overy has advised Campari Group on the signing and simultaneous closing of an agreement with Diageo, a global leader in beverage alcohol, to acquire the French flavoured liqueur brand Picon and related assets, for an amount of approximately EUR119 million.

With the acquisition of Picon brand, Campari Group aims to further enlarge its brand offering in its core bitter aperitifs category in international markets and increase its critical mass in France and Benelux, in line with the recent acquisitions of French rums Trois Rivières and La Mauny (2019) as well as Champagne Lallier (2020).

The Allen & Overy team was led from the Paris office by Anne-Caroline Payelle (Counsel) and Alexandre Ancel (Partner), with Juliette Olliveaud and Marie Silvain (Associates). The team also included Jeremy Parr (Partner), Zara Sproul and Ed Lucas (Associates) from Allen & Overy's London office.