Italian spirits group Campari has agreed to buy French cognac brand Grand Marnier for EU684 million.

In a statement, the world’s sixth-largest spirit company said that the acquisition “perfectly” fitted with its growth strategy and it is expected to position the larger group well to take advantage of the resurgent interest in classic cocktails throughout the market.

Grand Marnier, owned by Societe des Produits Marnier Lapostolle, was originally created in 1880, by Louis-Alexandre Marnier Lapostolle.