Italian spirits brand Campari is adding more brands to its liquor cabinet: The distiller has agreed to buy Grand Marnier for $759 million, reports Bloomberg. The bitter aperitif producer is hoping to boost sales of the orange-flavored French cognac, which have been largely stagnant over the past decade.
According to CNN Money, Campari says "it wants to take advantage of 'the revival of classic cocktails, particularly in the U.S.'" Sales of its namesake spirit have undoubtedly been bolstered by said movement, which is an essential ingredient in the negroni; its new acquisition Grand Marnier is used in such cocktails as the margarita and the sidecar.
Campari also owns Skyy Vodka, Wild Turkey bourbon, Aperol, and Appleton Estate rum, among other liquor brands. Bloomberg notes that Campari's purchase of Grand Marnier also includes a historic villa in a French coastal town "that’s reputed to have the most expensive residential real estate in the world." Owned by the Marnier family since the 1920s, Campari reportedly plans to sell it.