The Campari group is willing to consider selling its Captian Morgan rum brand if offered an attractive price, according to CEO of the global company Bob Kunze-Concewitz.
In an interview with the Jamaica Observer while in Jamaica recently, Kunze-Concewitz said that if the company received an “attractive proposal” for the brand “we would consider it”.
He noted, however, that his company was in the business of buying brands, not selling them.
The Captain Morgan brand produced by J Wray and Nephew is not well known in Jamaica and cannot be sold elsewhere, as Diageo owns global rights to the brand outside of Jamaica.
When the Campari Group bought J Wray and Nephew four years ago, it was primarily to add the Appleton and J Wray Overproof rum brands to its growing portfolio of alcohol products.
But with those two brands, it also acquired almost 50 other brands — including Captain Morgan — a remnant from the days when J Wray and Nephew partially owned that global brand. The result is an anomaly, where the global brand cannot be sold in Jamaica, and the local brand cannot be bought outside of the island.
Published in the Jamaica Observer
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