By Sacha Delfosse – editor bars&clubs
Gruppo Campari has announced that it has signed an agreement to fully acquire Fratelli Averna S.p.A, owner of the Italian amaro brand, Averna.
The Fratelli Averna S.p.A portfolio is also home to the Braulio, Limoncetta and Grappa Frattina brands, on top of Averna, which is the second best-selling bitter in Italy. The total purchase price is €103.75 million with the transaction expected to be completed by June 3.
The move is expected to further strengthen Gruppo Campari position in the Italian spirits market, and make the company the leading supplier of premium Italian bitters and liqueurs. Gruppo Campari said the purchase will also create growth potential for the company in various key markets.
“With the acquisition of Averna Group, we continue to strengthen our portfolio of premium offerings and consolidate our position as the leading purveyor of premium Italian liqueur and bitter specialties worldwide. Adding a portfolio of brands with high quality, high margin and strong cash generation capability, this acquisition represents a great opportunity for us to leverage our international route-to-market for profitable growth, in line with our acquisition strategy,” said Gruppo Campari CEO Bob Kunze-Concewitz.
“Other than in Italy, we will increase our critical mass in key Central European markets, particularly in Germany. Moreover, thanks to our strong distribution network in North America, we are very well positioned to benefit from the market’s growth potential, particularly in the US, where mixologists and local consumers are showing growing interest in Italian bitters and liqueurs in the on-premise channel. In this core market, with Averna, we will further enrich our existing offering of Italian specialities, including Campari, Frangelico, Cynar and Aperol.”