CAMPARI TO INVEST E500 MILLION
By Nicolas Belfrage MW & Franco Ziliani
Campari, Italy's most important alcoholic beverages group and the sixth biggest in the world, is to invest up to e500 million' towards expansion in the wine and spirits sector, according to its CEO Marco Perelli Cippo. Strengthened by a revenue growth of 34% in 2002 and by a turnover continually on the rise (including over the first half of 2003), Campari plans to focus its investment on the wine sector. In 2001, the group absorbed Tenute Sella & Mosca of Sardinia, a company holding 500ha of vineyard and producing seven million bottles, including Terre Bianche, Tanca Farr and Anghelu Ruju. In the summer of 2003, the group completed a takeover of Bersano Riccadonna of Piedmont, makers, among other products, of the sparkling wine President, for e11.3 million. Ulterior takeover targets (several detailed dossiers are being considered) will have to have dimensions and characteristics similar to its previous targets, and be, in the words of Cippo, Italian wine estates of strong image with good growth potential'.
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