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Campari Posts 19% Sales Increase, Flags Inflation, Economic Volatility Ahead Of Holidays

October 27, 2022

In case you missed this morning’s news alert, Campari Group has acquired a minority equity stake in brand incubator Catalyst Spirits, led by industry veteran Simon Hunt, for an undisclosed sum. Also this morning, Campari has posted sales up 19% to €2 billion ($2b) for the nine months through September, with adjusted EBITDA rising 20% to €558 million ($557m).

Campari’s sales in the U.S., its largest market, were up 15% for the nine-month period. The U.S. business showed “continued positive momentum in the on-premise and resilient home consumption, benefitting also from pricing effects, as well as some recovery in wholesaler inventory levels for Espolòn to avoid out of stocks,” the company said.

Wild Turkey Bourbon, Espolòn, Aperol, and Campari all grew by double digits in the U.S. in the nine months through September. Grand Marnier shipments were slightly negative, the company added, despite a partial recovery in the third quarter, due to continuing glass constraints, and Skyy declined in the competitive vodka category. The Americas region accounts for 45% of Campari Group’s total sales.

Campari Group CEO Bob Kunze-Concewitz said the company is confident heading into the holiday season, adding, “From a shipment standpoint, we expect trends to normalize in the last quarter reflecting seasonal sales mix as well as supply chain challenges in selected areas. Concomitantly, volatility and uncertainty remain due to the ongoing pandemic, geopolitical tensions, and elevated inflationary pressure, with the latter to be mitigated by pricing.”—Daniel Marsteller

Campari America—Key Spirits Brands
Brand Type Total 2021
Case Depletions1
2022 YTD
Percent Change
in Control States2
Skyy American Vodka 2,150 -11.3%
Espolòn Tequila 979 -1.2%
Wild Turkey Bourbon/Rye 835 0.9%
Grand Marnier Imported Liqueur 625 -2.0%
Wild Turkey
American Honey
Flavored Whiskey 490 -4.1%
Aperol Imported Liqueur 305 24.5%
Appleton3 Imported Rum 255 -4.0%
Campari Imported Liqueur 196 7.3%
Cabo Wabo Tequila 81 -8.2%
Russell’s Reserve Bourbon/Rye 72 8.9%
Total Campari America 6,154 -3.3%
1 Thousands of 9-liter case depletions
2 Year-to-date through August
3 Includes J Wray Overproof
Source: NABCA and IMPACT DATABANK © 2022
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