Davide Campari-Milano N.V.,trading asCampari Group,is an Italian company active since 1860 in the brandedbeverage industry.It producesspirits,wines,and non-alcoholic apéritifs. From its signature product,Campari,its portfolio has been extended to include over 50 brands, includingAperol,Appleton,Cinzano,SKYY vodka,Espolón,Wild Turkey,Grand Marnier,andForty Creekwhisky.[2]
 | |
| Company type | Public(N.V.) |
|---|---|
| BIT:CPR FTSE MIB Component | |
| Industry | Drink industry |
| Founded | 1860 |
| Founder | Gaspare Campari |
| Headquarters | Milan,Italy |
Key people | Robert (Bob) Kunze-Concewitz(CEO) Luca Garavoglia(Chairman) |
| Products | Spirits,wines,soft drinks |
| Revenue |  € 1.772 billion (2020)[1] |
| € 231.8 million (2020)[1] | |
| € 186.9 million (2020)[1] | |
| Total assets |  € 4.555 billion (2020)[1] |
| Total equity | € 1.998 billion (2020)[1] |
Number of employees | 3,784 (2020)[1] |
| Website | camparigroup |
Group profile
editFounded in Milan byGaspare Campariand currently headquartered inSesto 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
editThe first century
edit
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 byFortunato Depero,one of the most famousFuturistartists 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.
1990-Today
edit
In the 1990s, the consolidation of the global drinks market led Campari to build its own portfolio of brands.[10]In 1995, Campari acquired the Italian branch of the Dutch Group BolsWessanen, which distributed Crodino, Cynar, Lemonsoda, Oransoda, Biancosarti and Crodo.[11]In 1998, Campari acquired a minority stake in Skyy Spirits LLC, owner ofSKYY vodka,along with the world distribution rights (except for the USA). In return, Skyy Spirits LLC became the distributor for the whole Campari portfolio in the US. Campari acquired the Italian distribution rights of Lipton Ice Tea (1998),[12]the anise-based Greek spirit Ouzo 12 (1999), the Italian vermouthCinzano(1999).[13]
In July 2001, the group completed its IPO on theBorsa Italiana,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. Campari acquired Zedda Piras S.p.A. (Mirto di Sardegna), owning a majority stake in Sella & Mosca S.p.A. (2002), the sparkling white wine Riccadonna (2003), Barbero 1891 S.p.A.owner of brands Aperol, Aperol Soda, Barbieri, Mondoro, Enrico Serafino (2003),[15]and the Tuscan winery Teruzzi & Puthod.
In 2006, Campari Group entered the Scotch whisky segment by acquiring fromPernod Ricardthe brandsGlen Grant(including its distillery), Old Smuggler and Braemar,[16]and the tequila segment in 2007 with the acquisition ofCabo Wabotequila (founded bySammy Hagar).[17]In 2009, the Campari Group bought the Kentucky bourbon whiskey groupWild Turkeyand its distillery in Lawrenceburg from Pernod Ricard.[18]
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, andCoruba,the related upstream supply chain and the local distribution company.[19]
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.[20]
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 ofGrand Marnierin 2016.[21]In 2017, Campari acquired Bulldog London Dry Gin[22]and then acquired French brand Bisquit Cognac in 2018.[23]
In 2019, Campari Group purchased Rhumantilles, maker of French rums Trois Rivières and Maison La Mauny;[24]as well asLicorera Ancho Reyesand Casa Montelobos.[25]
Campari Group celebrated its 160th anniversary that year with theInfinito Campariinstallation, designed by sculptor Oliviero Rainaldi.[26]The company also curatedThe 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.[27]
2021 marked Campari Group's 20th anniversary on the Italian Stock Exchange.[28]In August 2022, Campari Group acquired a 15% stake in Howler Head, a flavoured bourbon brand from Catalyst Spirits.[29]In October 2022, the Campari Group had acquired a minority stake in the global spirits incubator Catalyst Sprits for an undisclosed sum,[30]and 70% stake of theWilderness Trail Distilleryfor $420 million.[31]
In December 2023, Campari bought the cognacCourvoisierfromBeam Suntory.[32]The purchase was completed in May 2024.[33]
Brands
editCampari's beverage brands include:[34]
See also
edit
References
edit- ^abcdef"DAVIDE CAMPARI-MILANO N.V. ANNUAL REPORT"(PDF).Campari Group.December 30, 2021.
- ^"our brands".Campari.Retrieved18 April2018.
- ^Barry, Colleen (20 May 2008)."Campari's growth cocktail mixes acquistion [sic], sales ".USA Today.Associated Press.Retrieved13 May2010.
- ^"Campari UK becomes the Portman Group's newest member".Portman Group.21 October 2020.
- ^Gruppo Campari corporate website
- ^Ray, Jonathan (20 November 2009)."Campari: the Italian classic that still has style".Retrieved2015-07-26.
- ^"Corporata Website, History Section".Archived fromthe originalon June 27, 2012.
- ^"Campari Soda Bottle by Fortunato Depero and Matteo Ragni | Vintage Italian Re-design | Ganzo | Dishing up visionary Italian style - without the cheese".Archived fromthe originalon 2021-11-15.Retrieved2013-02-21.
- ^FundingUniverse, "Davide Campari-Milano S.p.A. History" [from International Directory of Company Histories, Vol. 57. St. James Press, 2004]
- ^Corporate Website, History Section
- ^"Archivio Corriere della Sera".archivio.corriere.it.
- ^Fryer, Michael "Campari takes full control of Skyy Spirits", The Moodie Report, 2/11/06
- ^"Cinzano and Campari boogie back into the limelight".The Independent.January 12, 1998.
- ^"CNN - Campari lacks soda on debut - Jul. 6, 2001".February 5, 2007. Archived fromthe originalon 2007-02-05.
- ^"Campari raises €4m through Punch Barbieri sale".4 February 2013.
- ^"Pernod ricard: Cession de trois marques à campari".BFM Bourse(in French). 2005-12-22.Retrieved2024-03-15.
- ^"Campari Buys Remaining Stake in Cabo Wabo".Wine & Spirits Daily.2010-08-04.Retrieved2024-03-15.
- ^Kollewe, Julia (2009-04-08)."Campari buys Wild Turkey from Pernod Ricard".The Guardian.ISSN0261-3077.Retrieved2024-03-15.
- ^"Sarah Shannon, Clementine Fletcher," Campari Adds Appleton Rum With Lascelles DeMercado Purchase ", Bloomberg Businessweek, on September 03, 2012".Archived fromthe originalon January 2, 2013.RetrievedFebruary 22,2013.
- ^"Italy's Campari buys Sicilian rival Averna".Reuters. 15 April 2014.Archivedfrom the original on 18 April 2014.RetrievedApril 26,2014.
- ^Francesca Landini; Maria Pia Quaglia (May 9, 2017)."Campari's U.S. push lifts earnings, shares hit record high".Reuters.
- ^"BULLDOG Gin Sold to Gruppo Campari for $58 Million Cash".Distillery Trail.February 2, 2017.
- ^Kyle Swartz (January 1, 2018)."Campari Acquires Bisquit Cognac".StateWays.
- ^Shay Waterworth (September 5, 2019)."Campari Group completes €60m Rhumantilles takeover".Drinks International.
- ^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.
- ^"Oliviero Rainaldi Infinito Campari".Mucciaccia Gallery.September 10, 2020.
- ^Anna Gandolfi."Campari, in mostra lo spirito dell'arte".La Lettura.
- ^"Campari Group celebrates 20 years on the stock market and toasts the semester".EFA News.July 28, 2021.
- ^"Campari buys stake in Howler Head Bourbon".The Spirits Business.2022-08-24.Retrieved2022-08-24.
- ^"Campari Group acquires minority stake in Catalyst Spirits".FoodBev Media.2022-10-28.Retrieved2022-10-30.
- ^"Italy's Campari builds up bourbon business with $600 million Kentucky deal".Reuters.2022-10-31.Retrieved2024-03-04.
- ^Carruthers, Nicola (2023-12-14)."Beam Suntory to sell Courvoisier to Campari for $1.2bn".The Spirits Business.Retrieved2024-03-10.
- ^Carruthers, Nicola (2024-05-01)."Campari completes Courvoisier purchase".The Spirits Business.Retrieved2024-05-01.
- ^"Brands | Campari Group".camparigroup.Retrieved2023-11-03.