Campari to offload Amaro Averna to Illva Saronno in €100m deal
Disaronno owner Illva Saronno has agreed to buy Italian liqueur brands Amaro Averna and Zedda Piras from Campari Group in a €100 million (US$117.2m) deal.
The transaction is expected to be completed during the first half of 2026 for €100 million (US$117.2m).
Founded in 1886, amaro brand Averna is produced in Caltanissetta, Sicily, with a recipe that “remains a closely guarded secret”. It is noted by Saronno as ‘one of the most iconic amaros’ and for its strong international presence where 70% of its net sales are international – primarily in the US, Germany and Austria.
Zedda Piras, meanwhile, is made in Sardinia using local myrtle berries and leaves. The after-dinner drink is mainly sold in its home market of Italy.
Illva Saronno CEO Marco Ferrari has previously expressed to The Spirits Business that the company is open to acquisitions. The firm has also picked up American whiskey maker Sagamore Spirit and Engine Gin in recent years.
Ferrari said the deal was “another step towards strengthening our role as a global spirits player”.
He continued: “With their recognised quality and heritage, the two brands are a great addition to our international portfolio, and they will significantly reinforce our position in three of our priority markets (US, Germany and Italy).
“Illva Saronno, with its solid international presence, is proud to promote the Italian culture and way of life around the globe, which is something we share with, and admire of, Campari Group. We are confident that under our leadership the brands will continue to flourish in the coming years.”
Illva Saronno also produces flagship Italian liqueur Disaronno, which celebrates its 500th anniversary this year. Other brands in the portfolio include Tia Maria, The Busker Irish Whiskey, Artic Vodka, Isolabella Limoncello, and several Sicilian wine brands.
Campari Group continues streamlining strategy
While Illva Saronno adds to its portfolio, fellow Italian drinks firm Campari Group has been streamlining its operations this year, working to dispose of its non-core brands to reduce outstanding debt.
CEO Simon Hunt previously said the firm would “focus on de-leveraging” and cutting its debt when asked about mergers and acquisitions.
Earlier this summer, Campari Group agreed to sell Cinzano vermouth to Caffo Group 1915 for €100 million (US$117m).
In March, Campari also oflloaded its sole production facility in Australia. The site produces Campari’s RTDs, including Wild Turkey and cola, and third-party products.
The firm saw sales drop by 4.2% in the first quarter of this year and returned to growth in the following three months. It posted a 4.4% gain in the third quarter.
Addressing the latest divestments, Hunt said: “The sale of Averna and Zedda Piras is another important step in our portfolio streamlining strategy, aimed at refocusing on fewer bigger bets, while supporting further deleverage, as we outlined during our Capital Markets Day.”
Hunt described Illva Saronno as a “strong player” in the alcohol industry, with the firm providing the “best possible fit for the future development of these brands, especially given their long-standing history of working with Sicilian brands”.
Other major spirits firms such as Diageo and Pernod Ricard have also outlined cost-cutting strategies this year in wake of slowing sales.
