Campari Group has struck a deal to buy Courvoisier cognac from Beam Suntory for $1.2 billion, the largest acquisition in the Italian spirits maker's history.

Founded by Felix Courvoisier in 1828 in Jarnac in the Charente region of France, Courvoisier won the prestigious title of official supplier to the Imperial Household during the reign of Napoleon III and became the drink of choice during the Belle Epoque. In 2022, the company achieved revenues of $249 million, with approximately 60% coming from its largest market, the United States, followed by the United Kingdom and China. Campari, which is controlled by the Italian Garavoglia family, is looking to use the acquisition to expand its presence across the Atlantic.

Campari's diverse portfolio already includes renowned brands such as Skyy Vodka, Wild Turkey whiskey and Bulldog gin, in addition to Campari aperitifs and Aperol, the group's flagship brand and a key part of the famous Spritz cocktail. European drinks companies are trying to diversify by including spirits such as tequila and American whiskey in their traditional offerings. The company's expansion efforts include the acquisition of US bourbon producer Wilderness Trail Distillery in 2022.