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The enterprise valueof the acquired business is € 128.2 million, corresponding to 7.5 times the pro forma EBIDTA 2009 (inclusive of the distribution margins of the Frangelico brand in the US).

The transaction is expected to close on October 1, 2010 and the consideration will be fully self-financed.

Milan, 16 September 2010 - Gruppo Campari announces it has signed an agreement to acquire Carolans, Frangelico and Irish Mist from William Grant & Sons, reinforcing Campari’s position as a fast growing company in the US and key international premium spirits markets.

The acquired business includes the Carolans, Frangelico, Irish Mist trademarks and finished goods.

LONG before graduating to wine, most of us begin with milk, which, of course, brings us to our first vintage-dating: The carton says ''Sell by Feb.

11.'' But wine is wine and milk is milk, and never the twain shall sensibly meet in a glass. Irish cream liqueurs - a blend of Irish whisky, cream and such flavorings as chocolate and coffee - are near-relatives of the Brandy Alexander.

The alcohol acts as a natural preservative for the product.

Under normal conditions of storage Baileys has a shelf-life of 30 months.

Though cream liqueurs are touted as rich, smooth, satiny - with what professional tasters call a good ''mouth feel'' - they tend to be overly viscous, leaving a Vaselinelike film in the mouth. However, these rich beverages need not be drunk straight.

They can be enjoyed over ice as an aperitif, used with other mixers such as flavored soda and orange juice, added to coffee after dinner or poured onto desserts.

This acquisition represents a perfect fit in our acquisition framework, in business and financial terms.

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