Campari Group acquires a 49% interest in Tannico

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Campari Group announces that it has signed an agreement with all shareholders-including the leading ones (the CEO Mr. Marco Magnocavallo, Programma 101 SICAF S.p.A. and Boox S.r.l, jointly the ‘Sellers’)-to acquire a 49% interest in Tannico.

The transaction structure foresees that Campari Group acquires 39% of the share capital of Tannico and simultaneously subscribes to a reserved capital increase to reach, in aggregate, a 49% shareholding.

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 the USA, Germany, UK, and France.

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The overall consideration for the 49% interest is €23.4 million. Tannico held €1.6 million net cash as of 31 December 2019. The consideration will be financed through available resources and will be paid using cash. Pursuant to the investment agreement, Campari Group will have the possibility to increase its interest to 100% starting from 2025, based on certain conditions.

The transaction is expected to close by the end of July 2020.

Bob Kunze-Concewitz, Chief Executive Officer of Campari Group: ‘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.’.

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Marco Magnocavallo, Chief Executive Officer and Co-founder of Tannico: ‘In this moment, as consumers largely evolve in their purchasing behaviours 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.’.

Andrea Di Camillo, Founding Partner of P101 SGR: ‘As P101 and on behalf of the other investors, who have bet on Tannico with us since 2015, we are extremely satisfied with this transaction that not only prospectively allows us to exit from one of our investments, but also gives us the opportunity to undertake a journey with one of the most attractive Italian companies. This transaction highlights that technology and venture capital are ’allies’ of the companies that, like Campari Group, are focused both on the near term as well as the long run.’.

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Vitale&Co S.p.A. and Chiomenti Studio Legale advised P101 SGR on this transaction. Pedersoli Studio Legale and McDermott Will&Emery acted as advisors for Campari Group.

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Campari Group acquires a 49% interest in Tannico - Brand SpurCampari Group acquires a 49% interest in Tannico - Brand Spur

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Campari Group acquires a 49% interest in Tannico - Brand SpurCampari Group acquires a 49% interest in Tannico - Brand Spur

Latest News

Qatar Airways Launches Ferry Transfer Service from Shenzhen Shekou to Hong Kong International Airport

Qatar Airways introduces Upstream Check-in Service in Shenzhen starting from 15 April 2021 to offer greater connectivity in the Greater Bay Area

Local passengers will have the option to utilise the 30-minutes-long ferry service to fly out of Hong Kong; "Asia's World City" to over 80 destinations in Europe, the Middle East, Africa and the Americas


SHENZHEN & HONG KONG SAR, CHINA - Media OutReach - 12 April 2021 - Qatar Airways today announced the sea-to-air ferry transfer service from Shenzhen Shekou Port to the SkyPier in the airside of Hong Kong International Airport (HKIA) starting from 15 April 2021, providing passengers in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), one of the world's most dynamic mega-regions, convenient access to the airline's global network from "Asia's World City".


Campari Group acquires a 49% interest in Tannico - Brand Spur

Partnering with Airport Authority Hong Kong, the introduction of the Upstream Check-in Service will allow Qatar Airways customers in Shenzhen greater flexibility and enhanced travel options to the world from Hong Kong, where the airline operates daily direct service to Doha with its modern and fuel-efficient Airbus A350-900 aircraft that features 36 lie-flat seats in Business Class and 247 seats in Economy Class.

Qatar Airways customers can purchase their ferry tickets from SkyLink or the port's website. Passengers utilising the 30-minutes-long ferry service will be provided with boarding passes and baggage check-through service to their final destinations at the Shenzhen Shekou terminal, where they will also clear their customs and immigration. Upon arrival at SkyPier, customers can proceed directly to their Qatar Airways boarding gate, or enjoy the award-winning duty-free shopping experience and fine-dining options at HKIA before continuing a seamless and hassle-free onward journey with the airline to more than 80 destinations in Europe, the Middle East, Africa and the Americas.

Mr. Thomas Scruby, Qatar Airways Vice President of Sales for Australasia & North Asia, said: "The introduction of ferry transfer service will boost our footprint in the Greater Bay Area by providing our Southern Chinese customers more flexible flying options via HKIA. We know connectivity within the region and to the wider world is critical for the success of the GBA. Therefore, we are excited to do our part to build the infrastructure necessary to make it easier and smoother for local customers to travel despite the disruption caused by the pandemic around the world."

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"We are confident in the market's demand and our commitment to the region remains resolute. The next phase of our partnership with Airport Authority Hong Kong will see the ferry transfer service to be further expanded to other key GBA metropolis such as Macau and Dongguan once government restrictions are lifted, allowing even more customers in the region to enjoy the world-class experience that Qatar Airways has to offer."

Premium customers opting for the ferry transfer service can continue to enjoy the luxurious on-ground experience at the Plaza Premium Lounge, conveniently located near Gate 1 at the South Departures Hall in Hong Kong International Airport. Passengers will be able to take advantage of the well-furnished environment with comfortable seating, shower rooms, contactless food ordering service, highspeed Wi-Fi and international TV channels. Privilege Club Gold members and above as well as selected oneworld frequent flyers also enjoy access to The Wing located near Gates 1 - 4, the industry-renowned lounge operated by Cathay Pacific, where guests can recharge, relax, and catch up with work before boarding their Qatar Airways flights.

The Greater Bay area is home to many of the nation's leading universities and academic institutions; the ferry transfer service will also provide more travel choices to the area's students wishing to complete their higher-education or exchange programs abroad. International students will be able to enroll in Qatar Airways Student Club and enjoy a wide range of benefits throughout their educational journey, such as special fares, extra baggage allowances, the flexibility to change the dates of their flight, complimentary Super Wi-Fi onboard, and more. For information about Student Club, visit: https://www.qatarairways.com/en/student-club.html

In addition to the highest safety standards, passengers flying with Qatar Airways will enjoy an even greater range of thoughtfully designed onboard experiences, including locally inspired menus, multi-language entertainment programs within the airline's award-winning IFE system, as well as Cantonese and Mandarin-speaking staff service both onboard and at the airline's five-star hub Hamad International Airport (HIA).

Qatar Airways continues to expand its network of destinations, offering more flights to international destinations than any other airline. By the middle of summer 2021, Qatar Airways' plans to rebuild its network to more than 140 destinations including 23 in Africa, 14 in the Americas, 43 in Asia-Pacific, 43 in Europe and 19 in Middle East. Many cities will be served with a strong schedule with daily or more frequencies.

Qatar Airways has become the first global airline in the world to achieve the prestigious 5-Star COVID-19 Airline Safety Rating by international air transport rating organisation, Skytrax. This follows HIA's recent success as the first airport in the Middle East and Asia to be awarded a Skytrax 5-Star COVID-19 Airport Safety Rating. These recognitions provide assurance to passengers across the world that airline health and safety standards are subject to the highest possible standards of professional, independent scrutiny and assessment. For full details of all the measures that have been implemented onboard and in HIA, please visit qatarairways.com/safety.

A multiple award-winning airline, Qatar Airways was named 'World's Best Airline' by the 2019 World Airline Awards, managed by the international air transport rating organisation Skytrax. It was also named 'Best Airline in the Middle East', 'World's Best Business Class', and 'Best Business Class Seat', in recognition of its ground-breaking Business Class experience, Qsuite. Qsuite is available on flights to more than 45 destinations including Johannesburg, Frankfurt, New York and Singapore.

About Qatar Airways:

A multiple award-winning airline, Qatar Airways was named 'World's Best Airline' by the 2019 World Airline Awards, managed by international air transport rating organisation Skytrax. It was also named 'Best Airline in the Middle East', 'World's Best Business Class' and 'Best Business Class Seat', in recognition of its ground-breaking Business Class experience, Qsuite. Qatar Airways is the only airline to have been awarded the coveted "Skytrax Airline of the Year" title, which is recognised as the pinnacle of excellence in the airline industry, five times.


Hamad International Airport (HIA), the airline's home and hub, was recently ranked "Third Best Airport in the World", among 550 airports worldwide, by the SKYTRAX World Airport Awards 2020. Rising from fourth position in 2019 to third in 2020, HIA has been steadily rising in the 'World's Best Airports' rankings since the start of its operations in 2014. In addition, HIA was voted the 'Best Airport in the Middle East' for the sixth year in a row and 'Best Staff Service in the Middle East' for the fifth year in a row.


Qsuite, a patented Qatar Airways product, features the industry's first-ever double bed in Business Class, as well as privacy panels that stow away, allowing passengers in adjoining seats to create their own private room, a first of its kind in the industry.

Qatar Airways was the first Gulf carrier to join global airline alliance oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 160 countries, with 14,250 daily departures.


Oryx One, Qatar Airways' in-flight entertainment system offers passengers up to 4,000 entertainment options from the latest blockbuster movies, TV box sets, music, games and much more. Passengers flying on Qatar Airways flights served by its B787, B777, A350, A380, A319 and select A320 and A330 aircraft can also stay in touch with their friends and family around the world by using the award-winning airline's on-board Wi-Fi and GSM service.


Qatar Airways proudly supports a range of exciting international and local initiatives dedicated to enriching the global community that it serves. Qatar Airways, the official FIFA partner, is the official sponsor of many top-level sporting events, including the FIFA World Cup Qatar 2022TM, reflecting the values of sports as a means of bringing people together, something at the core of the airline's own brand message - Going Places Together.


Qatar Airways Cargo, one of the world's leading international air cargo carriers, serves more than 60 freighter destinations worldwide via its world-class Doha hub and also delivers freight in the belly-hold of passenger aircraft to an extensive global network. The Qatar Airways Cargo fleet includes two Boeing 747-8 freighters and 24 Boeing 777 freighters.


Qatar Executive is the private jet charter division of Qatar Airways Group. Luxury jet services are available for worldwide charter on board the operator's wholly-owned business jet fleet. Qatar Executive is the launch customer for Gulfstream's G700, the world's first commercial service operator of the Gulfstream G500 and largest commercial operator of the G650ER worldwide. Qatar Executive's service portfolio also includes aircraft management, maintenance and Fixed Based Operator services.

Campari Group acquires a 49% interest in Tannico - Brand Spur
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