After the recent acquisition of the famous Canadian whisky Forty Creek, Campari continues its expansion, consistent with the same strategy. Campari group has in fact acquired a hundred per cent of Averna's corporation stock. The total value of the acquisition is ?103,75 millions and includes all four brands: Averna, Braulio, Limoncetta and Grappa Frattina. The closing operation is fixed for the 3rd of June of the current year.
Campari CEO Bob Kunze-Concewitz wants to enhance the distribution of the acquired brands utilising their well-established distribution network. Averna is one of the most popular and most sold liquors in Italy. The brand comes as well from a five-generation long family tradition, and the Averna family is confident that Campari Group will carry forward the work done so far and further expand it in line with their core values.
With this acquisition, Campari Group enriches their portfolio of Italian specialties, which at the moment includes Campari, Frangelico, Cynar and Aperol. They will count on a wider range of high quality and profitable spirits to sell in their Italian and Central European markets. Moreover, the growing interest of North American consumers and bartenders for Italian spirits constitutes another great potential for increasing sales.
Campari's expansion seams to be in line with their current structure of business. Their excellent distribution network constitutes a solid platform for enhancing their sales. Moreover, the strict criterion of focusing on high quality spirits preserves their credibility across the world and allows them to move in two parallel directions. With the acquisition of Forty Creek, they gained further access to the U.S. and Canadian markets, while bringing Canadian excellence to European markets. On the other hand, the acquisition of Averna Corporation provides them with the possibility to foster Italian excellence abroad.