Milan – A billion-dollar change is underway in the world of Italian spirits. The Campari Group has signed a binding agreement to sell its Amaro Averna and Sardinian myrtle liqueur Zedda Piras brands. The buyer is Illva Saronno Holding, a heavyweight in the industry whose portfolio already includes brands such as Disaronno and the traditional Sicilian wineries Florio and Duca di Salaparuta. The purchase price for the entire package amounts to 100 million euros.
Focus on core brands and location retention
The transaction will be carried out through a newly founded company (NewCo). In addition to intellectual property rights and inventories, this will also include the production facilities in Caltanissetta (Sicily) for Averna and in Alghero (Sardinia) for Zedda Piras. Some employees and existing contracts will also be transferred to ensure business continuity.
A transitional agreement has been reached until the final completion of the transaction, which is expected in the first half of 2026. According to this agreement, Campari will continue to bottle and blend Averna at the Canale plant for the time being and maintain distribution in core markets such as Germany, Austria, and Switzerland until the complete handover to Illva Saronno.
Part of a large-scale strategy
For Campari, this step is part of a clear strategy: the group wants to streamline its portfolio in order to focus more strongly on its global core brands. At the same time, the sale serves to simplify the business and reduce financial debt.
The Averna deal is just the latest in a series of divestments. Campari already divested itself of a production site in Australia and the Cinzano brand in 2025. Together with the sale of the Tannico wine platform by the Dioniso Group joint venture, the proceeds from these sales total over €210 million. Campari shareholders and market observers see this as a consistent implementation of the announced portfolio rationalization.
