Jekatarina Stuģe, former CEO of Amber Beverage Group is planning to invest in Sprissetto, an Italian aperitif business run by Italian Spirits Brands.
Financial terms of the deal were not disclosed.
Explaining the rationale behind the investment, Italian Spirits Brands said: “Stuģe’s decision to invest reflects her belief in the brand’s promise to redefine the aperitivo experience on a global scale.”
The funds are expected to support the building of Sprissetto’s commercial operations, helping it enter entering new regions and expand its presence in its current markets.
Founded in 2020, Sprissetto is sold in its domestic market, Italy, plus nine other countries, including Poland, Belgium, Latvia, Switzerland, Kazakhstan and Australia. It is available in some of these markets in both on-trade and off-trade, and solely off-premise in others.
Marco Lo Greco, co-founder of Italian Spirits Brands and founder of Sprissetto told Just Drinks the business is presently in talks to add three new markets to its export roster. He did not clarify which markets the business was negotiating with but did note the company was eyeing up the UK, Greece, Spain, Portugal and France.
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By GlobalDataLo Greco added that Stuģe would be helping the business decide which markets Sprissetto should be focused on.
Sprissetto works with local third-party distilleries Piedmont, northern Italy to produce the Italian aperitif range. Its portfolio includes Sprissetto Classico, Bitter, Venezia, Eden, Sud and a non-alcoholic variant called Sprissetto Zero.
Stuģe stepped down from Luxembourg-headquartered Amber Beverage Group in February this year, following a “mutual agreement” with the company.
She had worked at the Moskovskaya vodka producer for nearly a decade, previously as chief operating officer. She first joined the business in 2014 as CFO and a member of the company’s board of directors.
Stuģe was replaced in the interim by chief legal and sustainability officer Arturs Evart, who still remains in the CEO role according to the company’s website.
Commenting on the investment in a statement, Stuģe said: “I am thrilled to join such a fast-growing brand in a vibrant category. Sprissetto’s unique fusion of tradition and innovation sets it apart, and I’m confident we can achieve exceptional results by combining our shared passion and exploring new growth avenues.”
Lo Greco added: “Jekaterina’s strategic insights and proven track record in scaling brands globally will accelerate our journey, while we remain committed to delivering the exceptional quality and creativity that define us”.
Based in Turin, northern Italy, Italian Spirits Brands owns Sprissetto and Patrvm, which produces sparkling wines, Prosecco, and Valdobbiadene DOCG in the Veneto region.
