Italian drinks group Campari posted a 1.6 percent rise in core profit in the first nine months of the year, and said it had bought Mexican Tequila distillery San Nicolas for $17.5 million plus debt.
The group, best known for its bitter red aperitif of the same name, said on Tuesday earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 147 million euros ($187.2 million) before one-off items.
Campari also said it bought the Mexico-based Destiladora San Nicolas, which includes a Tequila distillery, brands Espolon and San Nicolas, Tequila stock and a distribution platform for the Mexican market.
The price was $17.5 million plus $10 million of debt.
"Destiladora San Nicolas is a strategic acquisition for Gruppo Campari as it contributes to the strengthening of the Group's presence in Mexico, a growing market for premium spirits," Campari said.
The purchase adds to Campari's portfolio of more than 40 brands which includes other Tequila and spirits brands, wines and soft drinks.