Campari Group has reached an agreement to sell its Cinzano vermouth and sparkling wine business to Gruppo Caffo 1915, a privately-owned Italian alcoholic beverage company and owner of the Vecchio Amaro del Capo brand, for EUR 100 million. The sale also includes the Frattina grappa and sparkling wine business.
Founded in 1757, Cinzano was acquired by Campari Group in 1999, while Frattina became part of Campari Group's portfolio through the acquisition of Fratelli Averna S.p.A. in 2014. Over the years, both brands have contributed significantly to Campari Group's international expansion and in strengthening its presence in the sparkling wine and vermouth categories.
Baker McKenzie advised Campari Group with a team led by Partner Paolo Ghiglione, supported by Associate Margherita Pasi, on the M&A aspects of the transaction. Meanwhile, Partner Carlo de Vito Piscicelli, together with Senior Associate Edoardo Filiberto Roversi, handled the banking and finance matters.
