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Campari Group

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Davide Campari-Milano N.V.
Company typePublic (N.V.)
BIT: CPR
FTSE MIB Component
IndustryDrink industry
Founded1860; 164 years ago (1860)
FounderGaspare Campari
HeadquartersMilan, Italy
Key people
Robert (Bob) Kunze-Concewitz (CEO)
Luca Garavoglia (Chairman)
ProductsSpirits, wines, soft drinks
RevenueDecrease € 1.772 billion (2020)[1]
Decrease € 231.8 million (2020)[1]
Decrease € 186.9 million (2020)[1]
Total assetsIncrease € 4.555 billion (2020)[1]
Total equityIncrease € 1.998 billion (2020)[1]
Number of employees
3,784 (2020)[1]
Websitewww.camparigroup.com

Davide Campari-Milano N.V., trading as Campari Group, is an Italian company active since 1860 in the branded beverage industry. It produces spirits, wines, and non-alcoholic apéritifs. From its signature product, Campari, its portfolio has been extended to include over 50 brands, including Aperol, Appleton, Cinzano, SKYY vodka, Espolón, Wild Turkey, Grand Marnier, and Forty Creek whisky.[2]

Group profile

Founded in Milan by Gaspare Campari and currently headquartered in Sesto San Giovanni, the Group is now a global company (sixth-largest spirits group worldwide),[3] marketing and distributing its products in over 190 countries. Production is concentrated in 22 manufacturing plants.[4]

Campari Group employs approximately 4,000 people and has its own distribution network. The company operates in Austria, Belgium, Germany, Italy, Luxembourg, Russia, Switzerland, the UK and Ukraine in Europe; Argentina, Brazil, Jamaica, Mexico and the United States in the Americas, as well as in Australia and China. Local distributors are additionally used in over 180 other markets. Campari Group has improved its performance over the years, doubling its size since the year of its first listing on Piazza Affari, combining organic and external growth. Sales for 2012 amounted to €1,340.8 million, 76.7% of which was in spirits, 14.6% in wines, and around 8% in soft drinks.[5]

History

The first century

Campari shop in Galleria Vittorio Emanuele II in Milan.

Campari Group traces its beginnings back to 1860, with the birth of its flagship brand and signature, red aperitif beverage Campari. Born in 1828, Gaspare Campari, the inventor of the recipe, was the 10th child of a farming family. At 14 he began working as a waiter and started developing a strong interest in people's drinking habits, coming to create the product that would take his name. Deciding to open his own bar, it became so successful that he opened another in the heart of Milan, making his own cordials, cream liqueurs and bitters in the basement. His choice of location near the Duomo coincided with the opening of Galleria Vittorio Emanuele, contributing to the fame of its bar and its bitters, then called Bitter all'Uso d'Olanda, which became extremely popular at the time.[6]

In 1904 the historic production site at Sesto San Giovanni was inaugurated. It would remain in operation until 2005 when a new production site was opened in Novi Ligure.

In 1926 Davide, Gaspare's son, transformed the company by dropping the production of all drinks other than a Campari bitter and Cordial Campari. Davide dedicated his considerable energy and determination to making the brand known across the world.[7]

In 1932 Camparisoda, the first single-serve aperitif in the world, was launched. The bottle was designed by Fortunato Depero, one of the most famous Futurist artists of the time. The iconic bottle,[8] unchanged to this day, has become a symbol of everyday "usable" design objects in Italy and the world. According to Italy's important newsmagazine La Domenica del Corriere [The Sunday Courrier] the new object was a "genuine novelty and wonder of the season." Depero's invention had many highly innovative features. It was the first single-dose product, it was ready for consumption and it contained the perfect pre-dinner drink mix of Campari and soda. The bottle's striking design resembled an upside down glass.

Davide Campari died in 1936; ten years later, the company incorporated as Davide Campari-Milano S.p.A. The company remained concentrated on this core product for most of the rest of the century, even after Domenico Garavoglia gained control of it in the 1970s.[9]

Sales grew especially strongly during the 1960s; by then, the Campari brands were distributed in over 80 countries, and over another 30 years distribution would cover 190 countries.

1960-2022

The critical step took place at the beginning of the 1990s. The rapid consolidation of the global drinks market, and especially the creation of a small number of dominant players such as Diageo and Allied Domecq, led Campari to make a choice between joining the race for market size or simply defending its core but niche product.[10] The first step towards building a competitive portfolio on the global market came in 1995 with the acquisition of the Italian business of the Dutch Group BolsWessanen. This brought a number of front-ranking names such as Crodino, Cynar, Lemonsoda, Oransoda, Biancosarti and Crodo.[11]

In 1998, the group underwent a further expansion with the acquisition of a minority holding and world distribution rights (except for the USA) in Skyy Spirits LLC, owner of SKYY Vodka. Skyy Spirits, LLC became the distributor for the whole Campari portfolio in the US as part of the deal. Later in 1998, the group gained the Italian distribution rights of Lipton Ice Tea, from Unilever Group.[12]

In 1999, expansion continued with the acquisition of Ouzo 12, the anise-based Greek spirit. In 1999 the group also acquired Cinzano,[13] producing vermouth and sparkling wines and one of the most internationally known Italian brands.

In July 2001, the group completed its IPO on Piazza Affari, in Italy's biggest IPO of the year.[14] The shares were priced at the lower end of the indicative price range of 30 to 38. The initial public offering was three times oversubscribed. The group later acquired leading brands like the Dreher aguardiente, the Old Eight, Drury's, Gregson's and Gold Cup whiskies and Liebfraumilch wine.

In 2002, Campari finalized the acquisition of Zedda Piras S.p.A. (Mirto di Sardegna), owning a majority stake in Sella & Mosca S.p.A., both companies based in Sardinia, Italy. The same focus on wine brought the group to acquire Riccadonna in 2003, producing Asti sparkling white wine.

In December 2003, Campari Group announced the acquisition of Barbero 1891 S.p.A. that brought to the portfolio brands including Aperol, Aperol Soda and Barbieri liqueurs in the spirit segment and Mondoro and Enrico Serafino in wines.[15]

In December 2005, Campari Group acquired the Teruzzi & Puthod winery in the Tuscan town of San Gimignano. Teruzzi & Puthod is one of the leading Tuscan wineries for the production of high-quality wines sold in over 20 countries worldwide.

In 2006, Campari Group acquired from Pernod Ricard Glen Grant, Old Smuggler and Braemar, along with the distillery where Glen Grant is produced in Rothes, Scotland. Thanks to this acquisition, the group strengthened its presence in the spirits segment and officially entered the key Scotch whisky segment.

In 2007, Campari Group announced the acquisition of Cabo Wabo tequila, created by Van Halen lead singer Sammy Hagar, adding the Tequila segment to the already wide portfolio.

In 2009, Campari Group announced the largest acquisition in its history, buying the Kentucky bourbon whiskey brand Wild Turkey. Along with Wild Turkey bourbon, American Honey liqueur, a honey and bourbon-based cordial, joined the portfolio. The group also took ownership of the distillery in Lawrenceburg, Kentucky as part of the deal.

In 2010, Campari Group announced an agreement to acquire Carolans Irish Cream, Frangelico Hazelnut Liqueur and Irish Mist Whiskey Honey Liqueur.

On July 6, 2011, Campari Group celebrated the tenth anniversary of its listing on Borsa Italiana.

In December 2012, Campari Group announced the successful acquisition of Lascelles deMercado & Co. Limited, including four brands: Appleton Estate, Appleton Special/White, Wray & Nephew, and Coruba, the related upstream supply chain and the local distribution company.[16]

In 2014, Campari Group announced the successful acquisition of Averna, Italy's second best-selling bitter, at 103.75 million euros ($143 million). The Averna group owns a portfolio of premium brands, among which are Braulio, a herb-based bitter, and Grappa Frattina, through which Campari entered the grappa category.[17]

In March 2014, Campari Group purchased Canadian whisky producer Forty Creek Distillery Ltd. for $185.6 million (Canadian). The sale included 100% of the distillery, including all Forty Creek facilities and whisky stocks. Founder John Hall stayed on as master distiller and blender.

Campari Group's biggest acquisition to date was of Grand Marnier in 2016.[18] In 2017, Campari acquired Bulldog London Dry Gin[19] and then acquired French brand Bisquit Cognac in 2018.[20]

In 2019, Campari Group purchased Rhumantilles, maker of French rums Trois Rivières and Maison La Mauny;[21] as well as Licorera Ancho Reyes and Casa Montelobos.[22]

Campari Group celebrated its 160th anniversary that year with the Infinito Campari installation, designed by sculptor Oliviero Rainaldi.[23] The company also curated The Spiritheque, an editorial collection of illustrated and animated stories relaying anecdotes behind the main brands of Campari Group's product portfolio represented in a virtual art gallery.[24]

2021 marked Campari Group's 20th anniversary on the Italian Stock Exchange.[25] In August 2022, Campari Group acquired a 15% stake in Howler Head, a flavoured bourbon brand from Catalyst Spirits.[26] In October 2022, it was announced Campari Group had acquired a minority stake in the global spirits incubator, Catalyst Sprits, for an undisclosed sum.[27]

Brands

Campari's beverage brands include:[28]

Apéritif: Aperol, Campari, Campari Soda, Cinzano Vermouth (Rosso, Bianco, Extra Dry), Crodino, Del Professore, 1757 Vermouth di Torino Extra Dry, 1757 Vermouth di Torino Rosso

Champagne: Champagne Lallier

Cognac: Bisquit, Courvoisier

Gin: Bickens, Bulldog, O'dina

Liqueur: Amaro Averna, Ancho Reyes, Braulio, Cynar, Dreher Frangelico, Grand Marnier, Ouzo 12, Sagatiba, Zedda Piras

Mezcal: Montelobos

Rum: Appleton Estate, Kingston 62, La Mauny, Trois Rivières, Wray and Nephew

Sparkling wine: Cinzano, Mondoro, Riccadonna

Tequila: Cabo Wabo, Espolon, Mayenda Tequila

Vodka: SKYY

Bourbon whiskey: Wild Turkey

Canadian whisky: Forty Creek

Scotch whisky: Glen Grant

See also

References

  1. ^ a b c d e f "DAVIDE CAMPARI-MILANO N.V. ANNUAL REPORT" (PDF). Campari Group. December 30, 2021.
  2. ^ "our brands". Campari. Retrieved 18 April 2018.
  3. ^ Barry, Colleen (20 May 2008). "Campari's growth cocktail mixes acquistion [sic], sales". USA Today. Associated Press. Retrieved 13 May 2010.
  4. ^ "Campari UK becomes the Portman Group's newest member". Portman Group. 21 October 2020.
  5. ^ Gruppo Campari corporate website
  6. ^ Ray, Jonathan (20 November 2009). "Campari: the Italian classic that still has style". Retrieved 2015-07-26.
  7. ^ "Corporata Website, History Section". Archived from the original on June 27, 2012.
  8. ^ "Campari Soda Bottle by Fortunato Depero and Matteo Ragni | Vintage Italian Re-design | Ganzo | Dishing up visionary Italian style - without the cheese". Archived from the original on 2021-11-15. Retrieved 2013-02-21.
  9. ^ FundingUniverse.com, "Davide Campari-Milano S.p.A. History " [from International Directory of Company Histories, Vol. 57. St. James Press, 2004]
  10. ^ Corporate Website, History Section
  11. ^ "Archivio Corriere della Sera". archivio.corriere.it.
  12. ^ Fryer, Michael "Campari takes full control of Skyy Spirits", The Moodie Report, 2/11/06
  13. ^ "Cinzano and Campari boogie back into the limelight". The Independent. January 12, 1998.
  14. ^ "CNN.com - Campari lacks soda on debut - Jul. 6, 2001". February 5, 2007. Archived from the original on 2007-02-05.
  15. ^ "Campari raises €4m through Punch Barbieri sale". 4 February 2013.
  16. ^ "Sarah Shannon, Clementine Fletcher, "Campari Adds Appleton Rum With Lascelles DeMercado Purchase", Bloomberg Businessweek, on September 03, 2012". Archived from the original on January 2, 2013. Retrieved February 22, 2013.
  17. ^ "Italy's Campari buys Sicilian rival Averna". Reuters.com. 15 April 2014. Archived from the original on 18 April 2014. Retrieved April 26, 2014.
  18. ^ Francesca Landini; Maria Pia Quaglia (May 9, 2017). "Campari's U.S. push lifts earnings, shares hit record high". Reuters.
  19. ^ "BULLDOG Gin Sold to Gruppo Campari for $58 Million Cash". Distillery Trail. February 2, 2017.
  20. ^ Kyle Swartz (January 1, 2018). "Campari Acquires Bisquit Cognac". StateWays.
  21. ^ Shay Waterworth (September 5, 2019). "Campari Group completes €60m Rhumantilles takeover". Drinks International.
  22. ^ Ambrogio Visconti. (December 4, 2019). "Campari Group's $35.7 Million Acquisition of a Controlling interest in the Ancho Reyes and Montelobos super premium brands". Global Legal Chronicle.
  23. ^ "Oliviero Rainaldi Infinito Campari". Mucciaccia Gallery. September 10, 2020.
  24. ^ Anna Gandolfi. "Campari, in mostra lo spirito dell'arte". La Lettura.
  25. ^ "Campari Group celebrates 20 years on the stock market and toasts the semester". EFA News. July 28, 2021.
  26. ^ "Campari buys stake in Howler Head Bourbon". The Spirits Business. 2022-08-24. Retrieved 2022-08-24.
  27. ^ "Campari Group acquires minority stake in Catalyst Spirits". FoodBev Media. 2022-10-28. Retrieved 2022-10-30.
  28. ^ "Brands | Campari Group". www.camparigroup.com. Retrieved 2023-11-03.
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