Amaro del Capo is “drinking” Cinzano: Campari sells its bubbles to Caffo

ROME – There is news in the world of sparkling wines that concerns two of the symbolic companies of Italian alcoholic beverages and one of the most famous brands on Italian tables. Campari Group is selling the Cinzano vermouth and sparkling wine business to the Caffo 1915 Group, owner of Vecchio Amaro del Capo . The agreement for 100% of the NewCo to which the branch subject to the sale is transferred provides for a consideration of 100 million euros . In addition to the Cinzano brand, which produces sparkling wines and vermouth and whose posters are an immediately recognizable icon of the last century, the Frattina grappa and sparkling wine business will also be transferred to Caffo.

“This transaction represents a significant evolution in the implementation of the strategy announced by Campari Group – reads a note from the company – confirming the commitment to rationalising the portfolio through the disposal of non-strategic brands to strengthen the commercial and marketing focus on the key spirits business”.

Campari Sells Cinzano to Caffo: The Deal

The production plants in Italy and Argentina , where Campari Group also produces other brands, are not part of the scope of the sale. The closing of the operation is expected by the end of 2025. For Gruppo Caffo 1915, the acquisition marks “an important step towards our international growth path”. Cinzano, “a historic and iconic brand”, will be the “key to accelerating our international expansion, immediately taking us to more than 100 markets”, explains CEO Sebastiano Caffo.

Caffo holds in its portfolio historic brands of national liqueurs, in addition to Vecchio Amaro del Capo, starting from Distilleria Durbino of Udine, Borsci S. Marzano , Amaro S.Maria al Monte, Grappa Mangilli, Ferro China Bisleri and Petrus Boonekamp.

For Campari Group, Mediobanca acted as financial advisor, Studio professionale associato a Baker & McKenzie as legal advisor, and Biscozzi nobili piazza and McDermott Will & Emery Italy as tax advisors. For Gruppo Caffo 1915, Broletto corporate advisory acted as financial advisor, Studio legale Scimemi as legal advisor, and Studio Gentile Sogei as tax advisor.