The COVID pandemic served the drinks world with notice that digital is only going to get bigger. In the US, the industry tried to capitalize on that trend with virtual happy hours and AR distillery tours. In Europe, where there is no three tier system, Campari hopped on the cyber ship by buying a popular online retailer.
Grupo Campari announced the acquisition of a 39% share in popular online wine shop Tannico for €23.4 million ($29,805,120). The deal calls for Campari to scale up their stake to 49% over the next year. In 2025, the Italian bitters house will have the option to purchase the outstanding 51%.
“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,” said Campari CEO Bob Kunze-Concewitz in a statement.
Tannico was founded in 2012, initially shipping only within Italy. Today, the company reports a 30% market share within Italy as well as operations within 26 other countries (primarily in Italy). Their retail portfolio includes over 25,000 wines accounting for €20.6 m ($26.22 m) in sales.
“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,” said Tannico co-founder and CEO Marco Magnocavallo in a statement. “With the 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.”
The deal is expected to be finalized by the end of summer.