Courvoisier, known historically as one of the top four cognacs, is a million-case brand, with net sales of US$249m in 2022, of which 60% was in the US. 

The deal is said to be worth US$1.2bn, and if approved by French trading authorities, is expected to close in 2024.

"We are very pleased to acquire a top-four historical cognac house, Courvoisier, with great latent equity and highly acclaimed expressions," said Bob Kunze-Concewitz, chief executive at Campari Group. 

“The addition of Courvoisier cognac to our portfolio of global priorities is a rare and unique opportunity to expand our premium spirits portfolio and cognac offering. By leveraging our heavy cognac expertise… Campari Group has a fantastic opportunity to reinforce this brand’s credentials as a global icon of luxury.”

Courvoisier also owns cognac brand Bisquit & Dubouché, and cognac-based liqueur Grand Marnier.

Matteo Fantacchiotti, Campari Group’s deputy chief executive said:"In what is the biggest deal in Campari Group’s history, Courvoisier will enable a significant step up in the US while also permitting long-term transformational potential in the strategic Asia-Pacific region.”