Wild Turkey sold to Italy's Gruppo Campari

The European parent company of Wild Turkey recently agreed to sell its brand and distillery facilities in Lawrenceburg for $575 million to Gruppo Campari, an Italian wine and spirits company.

The Wild Turkey brand had been acquired by French company Pernod Ricard in 1980 but is being unloaded as part of a plan to sell off assets valued at 1 billion Euros.

The deal also includes the sale of American Honey liqueur and aged bulk bourbon inventory, Pernod Ricard said.

A company spokeswoman in Lawrenceburg declined to comment on the deal and its impact locally.

The deal is subject to antitrust approvals and is expected to close in the second quarter.

Wild Turkey bourbon has a total sales volume above 800,000 9-liter cases and is distributed in more than 60 countries, according to Gruppo Campari.

The company also owns Skyy Vodka as well as numerous other brands.

"This acquisition is another key step in the building of a leading player in the global spirits industry," Gruppo Campari CEO Bob Kunze-Concewitz said in a statement.