Campari to acquire Fratelli Averna for €103.75 million

By Erin Smith

Published: 16 April, 2014

Gruppo Campari announced yesterday it has signed an agreement to acquire 100% of the 150-year-old independently-owned Fratelli Averna for €103.75 million.

The acquisition is expected to be complete on June 3, 2014.

Averna is a leading player in the Italian spirits market in the bitters, Grappa and Limoncello liqueur categories and has about 15% of the market share in Italy. ll.

Gruppo Campari will leverage the existing international route to market and says the acquisition is an opportunity to further strengthen their position to be a supplier of premium Italian spirits both in Italy and in the international market.

Bob Kunze-Concewitz, chief executive of Gruppo Campari, said: "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 specialities 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."

Averna and Braulio, two leading bitters brands that will be acquired through the deal, provide Campari with high potential for international expansion, strong brand image, and have strong cash generation capabilities.

The acquisitions of the Grappa Frattina will now allow Gruppo Campari to enter the Grappa category.

The company is looking to expand internationally and is particularly focused on its top five markets which include Argentina, Germany, Brazil, the USA and Austria.

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