The deal will be worth €100 million and is expected to close by the end of 2025.
As explained by Simon Hunt, CEO of Campari Group, the sale of brands is related to the optimization of the company’s portfolio. In turn, Sebastiano Caffo, CEO of Caffo Group 1915, said that the purchase of new brands will strengthen the company’s position in international markets.
Caffo Group 1915 takes over the ownership of the newly created company, which transferred the production of Cinzano and Frattina, the brands themselves, stocks of finished products and production equipment. Campari Group’s facilities in Argentina and Italy, where other beverages are produced, were not included in the deal.
The seller and buyer will also enter into a distribution agreement under which Campari Group will continue to distribute Cinzano products in Argentina, Spain, Mexico, Russia, South Korea and South Africa. It is not specified how long the additional agreement will be in force.
The Cinzano brand, founded in 1757, was acquired by Campari in 1999, while the Frattina brand was acquired in 2014 following the purchase of Fratelli Averna S.p.A.
According to the Campari Group, Cinzano and Frattina had net sales of €75 million in 2024, with an average annual growth rate of 5% for the last four years. The two brands accounted for 2% of the group’s total sales.
In October 2024 Just Drinks wrote that Camparoo was thinking of selling some of the brands. The reason cited was a decline in financial performance and a fall in the company’s share price.
