s giant Gruppo Campari has agreed to purchase 100% of grappa and sparkling wine producer Fratelli Averna (Averna Group) for €103.75m.Averna Group's portfolio mainly includes the Averna, Braulio, Limoncetta and Frattina brands with high marginality and strong leadership positions in their own categories.
Gruppo Campari claims that the acquisition will enable it to bolster its portfolio of premium offerings and consolidate its position as the leading purveyor of premium Italian liqueur and bitter specialties worldwide.
Gruppo Campari CEO Bob Kunze-Concewitz said that adding a portfolio of brands with high quality, high margin and strong cash generation capability, this acquisition represents a great opportunity for the company to leverage its international route-to-market for profitable growth, in line with its acquisition strategy.
"Other than in Italy, we will increase our critical mass in key Central European markets, particularly in Germany," added Kunze-Concewitz.
Gruppo Campari has also acquired Braulio, a bitter product that is made with alpine herbs, particularly popular in the North Italy and with high growth potential in international markets.
