The acquisition of Averna Group strengthens Gruppo Campari’s leadership in the Italian bitters and liqueurs categories.
Among Averna Group's portolio are Braulio, a herb-based bitter, sold mainly in Northern Italy; Limoncetta, a natural sweet liqueur made of lemon peel; and Grappa Frattina, the acquisition of which signals Gruppo Campari’s entry into the grappa category.
The deal is said to increase the group’s presence in Central Europe, particularly Germany, and gives added growth potential in North America - centrally the US where there is increased interest in bitters from bartenders and consumers.
Bob Kunze-Concewitz, chief executive officer, 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 specialties 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.
“Other than in Italy, we will increase our critical mass in key Central European markets, particularly in Germany. Moreover, thanks to our strong distribution network in North America, we are very well positioned to benefit from the market’s growth potential, particularly in the US, where mixologists and local consumers are showing growing interest in Italian bitters and liqueurs in the on-premise channel.
“In this core market, with Averna, we will further enrich our existing offering of Italian specialities, including Campari, Frangelico, Cynar and Aperol.”