Campari Group acquires 49% interest in Tannico
Campari Group has signed an agreement to acquire a 49% interest in Tannico, one of the market leaders in online sales of wines and premium spirits in Italy.
Tannico has also expanded its footprint to more than 20 markets in recent years, including the UK.
Tannico’s portfolio comprises 14,000 wines from more than 2,500 domestic and international wineries. It also has premium spirits. In 2019 it achieved net sales of E20.6 million.
Bob Kunze-Concewitz, chief executive officer of Campari Group, said: “Being an essential part of our digital transformation journey, e-commerce is a strategically relevant channel for our business. In this respect, Tannico, leading e-commerce platform for wines and premium spirits in Italy, represents a unique and strategic fit with our long-term business development goals.
"By leveraging Tannico's expertise, we will accelerate our development plans in e-commerce, an already growing channel, but set to become even more strategic following the likely long-lasting changing consumer behaviours due to the COVID-19 emergency, largely enhancing our digital capabilities. Moreover, with our support, Tannico will be able to strongly accelerate its international development and the B2B services, further boosting its already extremely remarkable growth.”
Marco Magnocavallo, chief executive officer and co-founder of Tannico, said: “In this moment, as consumers largely evolve in their purchasing behaviors getting increasingly closer to the online world, it is essential for Tannico to have the necessary resources to accelerate its development, without sacrificing the curation that characterizes us.
"With Campari Group, we have found an ideal partner who can support us in consolidating our leadership in the Italian market as well as significantly expanding our business abroad and in the B2B channel.”
The transaction is expected to close by the end of July this year.