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BRIEF-Campari says Grand Marnier investments to offset synergies in 2017
February 28, 2017 / 1:56 PM / 8 months ago

BRIEF-Campari says Grand Marnier investments to offset synergies in 2017

Feb 28 (Reuters) - Davide Campari Chief Financial Officer Paolo Marchesini tells an analysts’ conference:

* Higher investments on Grand Marnier brand will roughly offset synergies from the acquisition of the French liqueur company in 2017

* Expects gross margins to expand on a full year basis on existing business in 2017

* Group will have some visibility on “Patent box ruling” in Italy at the end of June and does not expect major changes to its tax rate in the country

* Grand Marnier acquisition from July 2016 to June 2017 is expected to add around 47 million euros to EBITDA, excluding Chilean wine business Further company coverage: (Reporting by Milan newsroom)

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