Campari sells the Business Vermouth and Sparkling Wine Cinzano to the Caffo 1915 group, the Italian company producing alcoholic beverages and owner of the old bitter brand of the boss, based in Vibo Valentia in Calabria. The sale also includes the Business of Grappa and Sparkling Wine Frattina. The total fee of the operation is equal to 100 million euros.
Simon Hunt, CEO of Campari, explains that “the sale of Vermouth and Sparkling Wine Cinzano and Frattina marks a fundamental step in our rationalization strategy of the wallet through the transfer of brands. We are very happy to sign this agreement with Caffo 1915 group, a company focused on the development of brands in the sector of alcoholic beverages with a strong international ambition ».
For Sebastiano CaffoCEO of the group of the same name, “this acquisition marks an important step towards our path of international growth. Thanks to the great success that we recorded in Italy with old bangs of the boss, we have strengthened our position in the internal market but we still have a lot of space and road to be done abroad. Cinzano, a historical and iconic brand, will be the key, immediately bringing us in more than 100 markets ».
The transaction provides for the creation of a new company (Newco) to which the Business of Cinzano and Frattina will be conferred, with the intellectual property, the warehouse of finished products, some employees, some production machinery in Italy, the contractual agreements and other related goods. The production plants in Italy and Argentina, where Campari Group also produces other brands, are not part of the perimeter of the sale.