Illva Saronno announced on Dec. 18 that it had acquired Amaro Averna and Zedda Piras from Campari. The Italian spirits company paid €100 M ($117.2 M) for both brands, according to The Spirits Business. The transaction will close in the first six months of 2026.
Amaro Averna has roots that date back to 1868, and Illva Saronna calls it one of the most “iconic” amari. This Sicilian tipple has a secret recipe made from a selection of herbs, roots, and spices. The amaro possesses essential oils of bitter lemons and oranges. Zedda Piras is Sardinian in origin, and this myrtle berry liqueur is typically served as a digestif.
CEO Marco Ferrarri expressed that the acquisition was a part of a strategy for Illva Saronno to establish itself as a “global spirits player.”
“Ilva Saronno, with its solid international presence, is proud to promote Italian culture and a 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.”
Two Spirits Companies With Diverging Strategies
Illva Saronno has made some notable acquisitions within recent years. The firm purchased the majority stake in Sagamore Spirit in 2023. While Illva Saronno has continued to grow its portfolio and bolster its presence in the company’s three top-tier markets of the United States, Germany, and Italy, Campari appears to be scaling back.
“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,” said CEO of Campari Group Simon Hunt in a statement. “We are very pleased to execute this transaction with Illva Saronno Holding S.p.A., a strong player in the alcoholic beverages market and the best possible fit for the future development of these brands, especially given their long-standing history of working with Sicilian brands. I would like to express my gratitude to our teams for their commitment and hard work in looking after these brands over the years.”
It’s been an interesting year for Campari. In November, the company’s controlling family, the Garavoglia family, faced accusations of tax fraud from Italian authorities. The Garavoglia family controls Lagfin, a holding group in Luxembourg that coincidentally happens to be the majority shareholder for the spirits conglomerate. Campari’s stocks dropped a bit after news made media headlines.
Reuters reported in early December that shares rose after Lagfin initiated talks with Italian authorities to settle the tax dispute.
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