Campari Group to acquire stake in online wines and spirits company Tannico
Italian drinks company Campari Group has agreed to acquire a stake of 49% in Tannico, an e-commerce platform for wines and premium spirits in Italy, for €23.4 million from the latter’s CEO Marco Magnocavallo, Programma 101 SICAF, Boox, and other shareholders.
Tannico is said to have a market share of more than 30% with over seven million unique visitors in the last 12 months. Its offering is said to feature 14,000 wines from more than 2,500 domestic and international wineries.
Marco Magnocavallo – CEO 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.”
Campari Group to acquire 49% stake in online wines and spirits company Tannico. Davide Campari-Milano S.p.A.
Last year, Tannico recorded net sales of €20.6 million. Since 2017, the online wines and spirits company is said to have grown its presence to 20 plus markets, including the US, Germany, the UK, and France.
Bob Kunze-Concewitz – CEO 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.”