Moët Hennessy and Campari Group are pleased to announce the formation of a 50/50 joint venture (JV) with the purpose of investing in Wines & Spirits e-commerce companies and build a European ecommerce pure player in this growing category.
As part of this partnership, Campari will be contributing its stake in Tannico to the JV. Tannico focuses on online sales of wines and premium spirits under the Tannico brand with a share of around 30% of this segment. Tannico also owns a majority stake in Ventealapropriete.com, a major e-commerce platform for the sale of premium wines and spirits in France. Tannico and Ventealapropriete.com have complementary business models, territories and
capabilities in terms of technology, marketing and logistics and generated pro-forma aggregated sales of over €70 million in 2020.
The joint venture between Campari and Moët Hennessy aims at building a premium pan-European e-commerce player for the benefit of all wine and spirits brands and their European consumers. The combined business will be led by a seasoned management team led by Marco Magnocavallo, current CEO of Tannico, who remains a key minority shareholder in the business.
“This partnership represents a significant step forward in our global ecommerce development strategy. While e-commerce was already a growing channel for wines and spirits, the global pandemic has triggered a significant
acceleration. We are delighted to be partnering with Campari Group and Tannico to create a premium pan-European Wines & Spirits e-commerce player.” – Philippe Schaus, President & CEO, Moët Hennessy
“We are very pleased to partner with Moët Hennessy to become a premium pan-European Wines & Spirits e-commerce player through Tannico. After the completion of Tannico’s first transformational step with the acquisition of Ventealapropriete.com, thanks to this agreement, the new partnership aims to continue to grow, further strengthening its footprint and expertise in the online retailing of spirits & wines.” – Bob Kunze-Concewitz, CEO Campari Group
“With the joint backing of Moët Hennessy and Campari, Tannico will have the firepower to consolidate the fragmented European e-commerce sector and offer a qualitative, sizeable and integrated route to market option catering to the needs of all its wines and spirits suppliers” – Marco Magnocavallo, CEO Tannico
The creation of the JV, which foresees the sale of 50% of the JV’s equity capital by Campari to Moët Hennessy for a cash consideration of €25.6 million, is expected to be finalized after the completion of all customary regulatory
requirements.
by Campari Group, Press Release
Source: camparigroup.com
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
