FDBusiness.com

Campari Group has acquired a 49% interest in Tannico for €23.4 million. Founded in 2013, Tannico is the market leader in online sales of wines and premium spirits in Italy, with a market share of over 30%.

With over 7 million unique visitors in the last 12 months, Tannico’s offering comprises 14,000 wines from over 2,500 domestic and international wineries. In addition to wines, the offering includes high-end spirits. Leveraging an unconventional communication approach for the wine industry, an advanced technology applied to online sales and an innovative digital marketing strategy, Tannico has progressively expanded into B2B, offering professional operators with relevant value-added services in areas such as assortment and warehouse management as well as tailored delivery solutions.

In 2019, Tannico achieved net sales of €20.6 million (under local GAAP). Net sales CAGR for the past three years (2016-2019) was approximately 50% and such trend grew significantly in Q1 2020, also due to the COVID-19 emergency, approximately reaching break-even from a profitability standpoint. Since 2017, Tannico has expanded its footprint to more than 20 markets, including USA, Germany, UK, and France.

The transaction is expected to close by end of July 2020. Campari Group will have the possibility to increase its interest to 100% starting from 2025, based on certain conditions.

Bob Kunze-Concewitz, chief executive of Campari Group, comments: “Being an essential part of our digital transformation journey, e-commerce is a strategically relevant channel for our business. In this respect, Tannico, leading e-commerce platform for wines and premium spirits in Italy, represents a unique and strategic fit with our long-term business development goals. 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, largely enhancing our digital capabilities. Moreover, with our support, Tannico will be able to strongly accelerate its international development and the B2B services, further boosting its already extremely remarkable growth.”

Marco Magnocavallo, chief executive and co-founder of Tannico, says: ‘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. With 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.”