CAMPARI BUYS OUT SKYY SPIRITS’ SHARES

The Italian drinks company Campari has paid $62 million for the remaining 11% stake in Skyy Spirits after gaining an option to buy the shares four years ago.

Now a fully owned subsidiary of Campari, Skyy also distributes Diageo’s 1800 Tequila and C&C International’s Tullamore Dew Irish whiskey. Skyy’s flagship brand (Skyy vodka) sells close to 2.4 million cases a year.