Campari Buys Averna, Bolstering Leadership In Italian Bitters-Liqueurs Segment

Gruppo Campari has acquired 100% of Italian distiller Fratelli Averna for €103.75 million ($143.4m). The Fratelli Averna portfolio is led by flagship bitter brand Averna, which is Italy’s second-largest bitter behind Campari. Other Fratelli Averna brands include Braulio bitter, the Limoncetta di Sorrento liqueur brand and Grappa Frattina.

The acquisition reinforces Campari’s leadership in the Italian bitters-liqueurs category, with a portfolio that includes Campari, Aperol, Cynar, Frangelico, Cinzano and now Averna. Led by the ongoing American boom in cocktails and mixology, the Italian bitters-liqueurs segment continues to show strong growth in the U.S. market.

Sicily-based Fratelli Averna was founded more than 150 years ago and has been managed by the founding family for five generations. The Averna brand has a 15% share of the Italian bitters market, according to the company. Fratelli Averna had total sales of €61.8 million ($85.3m) in 2013, up 3.1%. About 40% of that total was generated by the Averna brand. Braulio and Limoncetta contributed 11%, while the remainder was from Grappa Frattina and other lesser-known spirits brands. Italy represents 65% of Fratelli Averna’s total sales, while international markets, led by Germany and Austria, comprise the remaining 35%. The cash transaction is expected to close on June 3.

Tagged : Aperol, Braulio, Cinzano, Cynar, Frangelico, Fratelli Averna, Grappa Frattina, Gruppo Campari, Limoncetta di Sorrento

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