Campari already owns Italian liqueur brand Aperol

Campari already owns Italian liqueur brand Aperol

Gruppo Campari has agreed to pay EUR103.75m (US$143m) for Italian liqueur maker Averna Group.

The companies announced today (15 April) that Campari will acquire 100% of the group, which owns Italy's second best-selling bitter Averna. Averna's portfolio also includes Grappa Frattina, which will represent Campari's first move into the segment. 

Bob Kunze-Concewitz, Campari's CEO, said the deal will help increase the company's “critical mass” in Europe and position it to take advantage of growing US interest in Italian bitters and liqueurs in the on-trade. 

The deal is expected to close on 3 June, with Campari paying in cash. Italy represents about 65% of Averna Group's total sales, with main international markets including Germany and Austria.

Other Averna brands include Braulio, a herb-based bitter, and Limoncetta, a natural sweet liqueur made of lemon peel.

Campari already owns Italian liqueur brand Aperol, which this year signed a global sponsorship deal with English football club Manchester United. However, a drop in full-year sales in Aperol's core German market has dragged down Campari's performance in Western Europe.