Campari Buys Remaining Stake in Cabo Wabo

Campari revealed in their earning results today that they signed an agreement with Cabo Wabo on July 30 to purchase the remaining 20% stake for $11 million. Based on the agreement, Campari said in addition that "an estimated earn-out of US$ 4.0 million is expected to be paid to the selling shareholder in the three years following the closing of the deal." Recall that Campari bought the controlling 80% stake in Cabo Wabo in 2008.

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