Pernod Ricard has bought the remaining stake in Italicus Rosolio di Bergamotto, bringing the Italian aperitif liqueur brand fully under its ownership.
Financial terms of the deal were not disclosed.
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The move builds on Pernod Ricard’s initial investment in March 2020, when the French drinks giant first added Italicus to its portfolio through a 50/50 partnership with Giuseppe Gallo, the brand’s founder and CEO.
With Pernod Ricard now in full control, Gallo has exited the business and stepped down from the position of CEO.
Gallo launched Italicus in 2016 with the ambition of reviving the “historic Italian rosolio category” through a contemporary take on aperitivo culture, a statement said.
According to figures shared in a statement by Italspirits, the marketing and brand development agency, also founded by Gallo, Italicus has sold more than three million bottles and expanded into 47 countries over the past decade.
Gallo said in the statement: “Over the past ten years, we have built Italicus from an idea into a recognised international brand.
“I am proud of what the team has achieved and grateful to everyone who has contributed to its success. I wish Pernod Ricard every success as they continue to develop Italicus while preserving the quality, authenticity, creativity and long-term vision that have helped establish it as one of the world’s leading modern Italian spirits brands.”
Gallo will now focus on his new brand, Savoia Vino Aperitivo, alongside the “continued international development” of Italspirits, the statement added.
Pernod Ricard confirmed the deal separately.
Francesco Ottaviano, vice president of marketing for Gins and Apéritifs at Pernod Ricard, said in a statement: “Pernod Ricard was founded on aperitifs and built on them; it is in our name and in our DNA.
“Now that Italicus is fully part of the Pernod Ricard family, we’re excited to continue to share its story with even more people – celebrating its heritage while reaching new audiences around the world.”
Ottaviano added: “The apéritif market is thriving, driven by the growing popularity of the spritz occasion.
“This growth is fuelled by evolving consumer preferences. While apéritifs have long been a cherished pre-meal ritual in France and Italy, today’s consumers are opting for lighter, more refreshing, lower-ABV drinks to enjoy in the early evening or late afternoon – regardless of mealtime. Italicus will continue play an important role in this evolution.”
