Campari’s Sales Climb In First Three Quarters Of 2016, As U.S. Becomes Its Top Market

Gruppo Campari achieved solid sales growth in the first nine months of 2016, as the United States moved ahead of Italy to become the company’s top global market.

Campari enjoyed 5.4% organic sales growth through September 30, while its global priorities segment—including Campari, Aperol, Skyy, Wild Turkey, its Jamaican rums and the newly acquired Grand Marnier—fared even better, with 8.6% organic growth. On a reported basis, the company’s sales were up 3.1% to €1.18 billion ($1.3b).

In late June, Campari obtained control of Grand Marnier owner Société des Produits Marnier Lapostolle (SPML), in a deal that values the French drinks producer at around $760 million. Grand Marnier contributed €43.8 million ($48.2m) in net sales and €10.5 million ($11.6m) in adjusted pretax earnings to Campari’s nine month totals.

In the U.S.—which now accounts for more than 25% of Campari’s sales (just ahead of the Italian market’s 24%)—the company’s organic sales were up by 4.8%. Key growth drivers included Wild Turkey (+7.3%, mainly driven by the core offering) and aperitifs, with Aperol up by more than 40% and Campari also on the rise.

Skyy’s U.S. sales advanced by 0.5%, with the core product outpacing the flavors. Meanwhile, Espolòn continues to thrive. After the Tequila brand’s volume jumped by nearly 30% to 145,000 cases in 2015, according to Impact Databank, its sales rose by more than 45% in the first nine months of this year.

Beyond the U.S., Campari also achieved organic growth in Southern Europe, Middle East and Africa (+3.8%), North, Central and Eastern Europe (+13.6%) and Asia Pacific (+5.6%) while enduring drop-offs in Jamaica (-11.7%) and Brazil (-11.8%). Sales were essentially flat in Italy.

Tagged : Gruppo Campari, spirits

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