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Sammy Hagar Just Became a VERY Rich Dude
Davide Campari-Milano SpA, the Italian beverage maker known for its bittersweet red aperitif, will buy 80 per cent of rock star Sammy Hagar's Tequila Cabo Wabo for $80-million as part of a plan to expand through acquisitions of premium brands.
Campari will pay about 11.8 times estimated 2007 earnings before interest, taxes, depreciation and amortization, and expects to complete the transaction by January, the Milan-based company said in a stock exchange statement today.
"Cabo Wabo will give Campari a brand in a sector where it doesn't already control a label," said Luca Bacoccoli, an analyst at Caboto Equity Research in Milan who has a "hold" rating on the stock. "Campari still has a lot more room on its balance sheet for acquisitions. The question is, what's next?"
Campari, which expects sales to increase 5 per cent this year, said last month it is looking for more acquisitions after its purchase of three whisky brands last year. Campari says it can spend more than
Davide Campari-Milano SpA, the Italian beverage maker known for its bittersweet red aperitif, will buy 80 per cent of rock star Sammy Hagar's Tequila Cabo Wabo for $80-million as part of a plan to expand through acquisitions of premium brands.
Campari will pay about 11.8 times estimated 2007 earnings before interest, taxes, depreciation and amortization, and expects to complete the transaction by January, the Milan-based company said in a stock exchange statement today.
"Cabo Wabo will give Campari a brand in a sector where it doesn't already control a label," said Luca Bacoccoli, an analyst at Caboto Equity Research in Milan who has a "hold" rating on the stock. "Campari still has a lot more room on its balance sheet for acquisitions. The question is, what's next?"
Campari, which expects sales to increase 5 per cent this year, said last month it is looking for more acquisitions after its purchase of three whisky brands last year. Campari says it can spend more than
Joined: Jun 2002
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From: SoCal
[QUOTE=zdave87,May 22 2007, 03:35 PM] Sammy Hagar Just Became a VERY Rich Dude
Davide Campari-Milano SpA, the Italian beverage maker known for its bittersweet red aperitif, will buy 80 per cent of rock star Sammy Hagar's Tequila Cabo Wabo for $80-million as part of a plan to expand through acquisitions of premium brands.
Campari will pay about 11.8 times estimated 2007 earnings before interest, taxes, depreciation and amortization, and expects to complete the transaction by January, the Milan-based company said in a stock exchange statement today.
"Cabo Wabo will give Campari a brand in a sector where it doesn't already control a label," said Luca Bacoccoli, an analyst at Caboto Equity Research in Milan who has a "hold" rating on the stock. "Campari still has a lot more room on its balance sheet for acquisitions. The question is, what's next?"
Campari, which expects sales to increase 5 per cent this year, said last month it is looking for more acquisitions after its purchase of three whisky brands last year. Campari says it can spend more than
Davide Campari-Milano SpA, the Italian beverage maker known for its bittersweet red aperitif, will buy 80 per cent of rock star Sammy Hagar's Tequila Cabo Wabo for $80-million as part of a plan to expand through acquisitions of premium brands.
Campari will pay about 11.8 times estimated 2007 earnings before interest, taxes, depreciation and amortization, and expects to complete the transaction by January, the Milan-based company said in a stock exchange statement today.
"Cabo Wabo will give Campari a brand in a sector where it doesn't already control a label," said Luca Bacoccoli, an analyst at Caboto Equity Research in Milan who has a "hold" rating on the stock. "Campari still has a lot more room on its balance sheet for acquisitions. The question is, what's next?"
Campari, which expects sales to increase 5 per cent this year, said last month it is looking for more acquisitions after its purchase of three whisky brands last year. Campari says it can spend more than
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