Campari (BIT:CPR) has entered into an agreement to divest its Averna and Zedda Piras brands to Illva Saronno Holding for €100 million, continuing its efforts to simplify its brand portfolio and reduce financial leverage.
The deal covers the Sicilian bitters brand Averna and the Sardinian myrtle liqueur Zedda Piras, while explicitly excluding Braulio, which will remain Campari’s sole bitters brand. The transaction is expected to complete in the first half of 2026, subject to customary closing conditions.
Campari said the disposal is consistent with its broader strategic priorities. Commenting on the announcement, chief executive Simon Hunt said: “The sale of Averna and Zedda Piras marks a further key step in our portfolio rationalization strategy, with the aim of focusing on fewer but more strategically impactful initiatives, while continuing to drive deleveraging, as highlighted at our Capital Markets Day.”
The agreement includes transitional arrangements covering both production and distribution. Campari will continue to handle certain blending and bottling activities for Averna at its Canale facility for a limited period. In addition, the group will temporarily manage distribution of Averna and Zedda Piras in selected markets, including Germany, Austria, and Switzerland, until Illva Saronno has established its own distribution network.
Illva Saronno owns a portfolio of well-known brands, including Disaronno amaro and the Sicilian wine labels Florio and Duca di Salaparuta, and is expected to integrate the newly acquired brands into its existing global operations.
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