Campari Group Sells off Duo of Historic Liqueurs in $117 Million Deal

(Photo: Averna)

On Thursday, Campari Group announced the sale of Amaro Averna and Zedda Piras to Italian spirits firm Illva Saronno Holding S.p.A. The deal, slated to close in the first half of 2026, has been valued at €100 million (US$ 117.2 million), according to Reuters.

Each of the iconic liqueurs traces its roots to the 19th century. Founded in 1868, Amaro Averna is distilled in Caltanissetta, Italy, using a secret recipe that’s remained unchanged since its inception. The amari is a fan favorite among the international bartender community, with the vast majority of sales reported in the United States, Germany and Austria.

Zedda Piras is produced a day’s journey west in Alghero, Mirto, using wild Sardinian berries that are harvested each November. The liqueur is noted for its intense crimson hue, bittersweet flavor and drying, tannic finish.

Campari Group CEO Simon Hunt says the sale is part of a broader plan that will allow the company to refocus on its best-selling offerings. Following a revenue slump in October 2024, leadership announced its intention to dispose of “non-core brands.” The firm didn’t provide specifics at the time, though the plan will presumably maintain ownership of staples like Aperol, Campari, Espolon Tequila, Wild Turkey Whiskey and SKYY Vodka.

“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,” Hunt remarked in a news release. “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.”

Illva Saronno is best known as the owner of Disaronno liqueur. The holding group has followed through on a string of acquisitions in recent years, including Baltimore rye whiskey brand Sagamore Spirit in 2023 and Empire Gin in 2024.

“With their recognized quality and heritage, the two brands are a great addition to our international portfolio, and they will significantly reinforce our position in three of our priority markets (US, Germany and Italy),” Marco Gerrari, CEO of Illva Saronno Holding S.p..A, added. “Illva Saronno, with its solid international presence, is proud to promote the Italian culture and way of life around the globe, which is something we share with, and admire of, Campari Group.”