Campari buys 80 pct of Cabo Wabo Tequila for 80 mln usd from Sammy Hagar
MILAN (Thomson Financial) - Davide Campari-Milano SpA, the Italian beverage group, said that it has signed an agreement to buy an 80 pct stake in Cabo Wabo Tequila for 80 mln usd.
Cabo Wabo was founded in 1996 by Sammy Hagar, former lead singer of the band Van Halen, who is also a major shareholder, it said.
The deal, which is expected to be closed in Jan 2008, values Cabo Wabo 11.8 times expected EBITDA for 2007, it said.
The 'ultra premium' brand sells about 70,000 nine-litre cases a year, mainly in the US, and is one of the fastest growing brands in the US spirits market, Campari said.
The company said it can purchase the remaining 20 pct in two tranches. A 15 pct stake can be bought in 2012 and a 5 pct stake in 2015.
8th May 2007 09:26 PM
Riffhard
Not a fan of Sammy Hager,but I must say that tequila is great! Note to Jagger-start brushing up on that ultra premium vodka recipe.
Riffy
8th May 2007 09:29 PM
Brainbell Jangler
quote:Riffhard wrote:
Not a fan of Sammy Hager,but I must say that tequila is great! Note to Jagger-start brushing up on that ultra premium vodka recipe.
Riffy
Mick could make a mint just selling ultra-premium vodka to Keith.
8th May 2007 09:36 PM
Riffhard
quote:Brainbell Jangler wrote:
Mick could make a mint just selling ultra-premium vodka to Keith.
LOL! Yeah no shit. Of course if Ronnie could just come up with a decent recipe for orange soda the possiblities would be endless. An ultra-premium Toxic Waste cocktail. Sounds like a real money maker.
Riffy
8th May 2007 10:33 PM
Brainbell Jangler
quote:Riffhard wrote:
LOL! Yeah no shit. Of course if Ronnie could just come up with a decent recipe for orange soda the possiblities would be endless. An ultra-premium Toxic Waste cocktail. Sounds like a real money maker.
Riffy
Let's do this thing. Imagine us making money off the Stones for a change.
9th May 2007 11:49 AM
Saint Sway
I hear the big money is in hot sauce...
9th May 2007 11:55 AM
Joey
quote:Brainbell Jangler wrote:
Let's do this thing. Imagine us making money off the Stones for a change.
9th May 2007 12:03 PM
Nellcote
I do not think Mikey will reap as good windfall as Sammy did...80 mil is good cake!
9th May 2007 12:06 PM
rasputin56
quote:Saint Sway wrote:
I hear the big money is in hot sauce...
You ain't kiddin'
9th May 2007 12:20 PM
Starbuck
raspy...(flea??!?)...from one liberal to another...you know i love you...but please refrain from posting pics of joe perry on this website. aerosmith makes my skin crawl.
9th May 2007 12:49 PM
Saint Sway
Yes. Lets go ahead and laugh all we want at Sammy Hagar!!!
^ Hilarious!!
9th May 2007 12:54 PM
Nellcote
Good find!
9th May 2007 01:19 PM
Saint Sway
I'm not sure if we should laugh at this one or be frightened by it or both...
we need not look any further than here for the reason why:
^ go ahead, laugh at Sammy Hagar!!! Dance tequila boy! Dance!
10th May 2007 12:54 PM
Saint Sway
quote:Lethargy wrote:
Damn, M.A. ain't lookin too good these days...
you recall a time when he did look good???
oh... what?
sure...
for Some Guy...
^ a Van-Humiliation "meet & greet"
[Edited by Saint Sway]
10th May 2007 01:10 PM
glencar
quote:Saint Sway wrote:
Yes. Lets go ahead and laugh all we want at Sammy Hagar!!!
^ Hilarious!!
Looks like Sammy's been having mucho hot sauce & tequila!
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