Campari Group to acquire a 49% stake in Tannico from P101 for €23m.

Campari Group, a producer of spirits, wines, and soft drinks, agreed to acquire a 49% stake in Tannico, an e-commerce platform for wines and premium spirits, from P101, a venture capital firm, for €23m ($28m). "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," Bob Kunze-Concewitz, Campari Group Chief Executive Officer.