Davide Campari-Milano N.V. (BIT:CPR) has entered into exclusive negotiations with Beam Suntory Inc. to acquire the owner of Courvoisier cognac (Courvoisier S.A.S.) for up to $1.32 billion, paving the way for a significant step up in the U.S. market in what the group said would be the largest deal in its history. The Italian distiller said December 14, 2023 that the talks with Beam Suntory were aimed at acquiring Beam Holding France, which owns Courvoisier, for a fixed purchase price of $1.20 billion on a cash- and debt-free basis, with an additional payment of up to $120 million expected in 2029 upon the achievement of a 2028 net sales target.