Campari CEO Simon Hunt is wasting no time in continuing, at a rapid pace, with his strategy of pruning less profitable brands to focus on icons like Aperol, "fewer, bigger bets." brought forward to the end of November, Campari has announced that it has reached an agreement to sell two of its historic bitters, thebitter Averna e Sardinian myrtle Zedda PirasThe buyer is Illva Saronno Holding, also owner of Disaronno and historians Sicilian wines Florio and Duca di Salaparuta, winning over other competitors including Montenegro and group NewPrinces by Angelo Mastrolia. The only bitter kept in the Campari portfolio is the Braulio, the concentrate of herbs from Valtellina.
At Piazza Affari, the stock, initially held steady at par, fell by 0,66 percent in the afternoon.
After sale of Tannico and Cinzano at the beginning of November, the company's strategy continues, which aims to focus on organic growth and on resignations of the 9% of the least profitable brands, that is, approximately 30 brand to reduce debt and increase profitability. Instead, the drivers of the new strategy will remain the most well-known brands, namely Campari, Aperol, Espolon, Wild Turley and Courvoisier. “No group,” the manager said at the Strategy Day in early November, “can sustain the growth of 72 brands.” A factory in Australia was also sold in March. total proceeds from these disposals, including the sale of Averna and Zedda Piras, exceed 210 million.
A special company for bitters has been created
The new transaction provides for the creation of a newly incorporated company to which the businesses of Averna and Zedda Piras will be transferred, including intellectual property, the finished goods warehouse, some employees, the production plants in Caltanissetta, Sicily (for Averna), and Alghero, Sardinia (for Zedda Piras), goodwill, other contractual agreements as well as other related activities. total consideration of the operation is equal to 100 million of euros for 100% of the new company and the finished products inventory held by Campari Group, in the absence of cash or financial debt. The consideration, to be paid for cash, is subject to the usual price adjustment mechanisms, while the capital gain is still being determined. The transaction is expected to close within the first half of 2026.
“This transaction represents another significant step in the implementation of the portfolio rationalization strategy to strengthen the focus on core brands "This strategy will contribute to the simplification of the business and the reduction of financial leverage," a statement said. "Consistent with this strategy, in 2025, the Group announced the divestments of an Australian production and co-packing plant in March, and of Cinzano in June, which together represent approximately 3% of Campari Group's net sales on a pro forma basis. In October, Campari Group, through Dioniso Group (the 50/50 joint venture with Moët Hennessy), announced the sale of Tannico, the Italian e-commerce platform for wines and spirits, to a private sector player. The total proceeds from these divestments, including the sale of Averna and Zedda Piras, exceed €210 million."
