Moët Hennessy and Campari: JV to create a premium player in the e-commerce
Schaus (Moët Hennessy): "It is a significant step forward in our e-commerce strategy, which was already a growing channel for wines and spirits"
Moët Hennessy and Campari Group together for the creation of an equal joint venture with the aim of investing in wine & spirits e-commerce companies and to build a European player specialized in this channel, which in 2020 experienced a huge surge in business volumes. In the partnership, Campari Group will confer its stake in Tannico to the joint venture, focused on the online sale in its own name of premium wines and spirits, with a 30% stake in this segment. The creation of the joint venture involves the sale of 50% of the capital of the joint venture by Campari Group to Moët Hennessy, for a consideration, in cash, of 25.6 million euros, and its completion is expected after the completion of all the usual authorizations.
For some weeks now, Tannico has also owned a majority stake in Ventealapropriete.com, an important e-commerce platform for the sale of premium wines and spirits in France, with the two groups that are now characterized by complementarity in terms of business models , geographical presence and technological, marketing and logistic skills. On an aggregate level, the two companies generated sales of over € 70 million in 2020. The joint venture between Campari and Moët Hennessy thus aims to build a high-end pan-European e-commerce player for all brands. of wine and spirits and their European consumers. The new joint business will be managed by an experienced management team, led by Marco Magnocavallo, current CEO of Tannico, who remains a key minority shareholder in the business.
"This partnership", says Philippe Schaus, president and CEO of Moët Hennessy, "is a significant step forward in our e-commerce strategy, which was already a growing channel for wines and spirits, but which the global pandemic has contributed to grow significantly. We are therefore pleased to collaborate with Campari Group and Tannico to create a premium pan-European player in the wine & spirits e-commerce channel ”. For his part, Bob Kunze-Concewitz, CEO of Campari Group, comments: “We are very pleased to partner with Moët Hennessy to become a pan-European premium player in the wine & spirit e-commerce channel through Tannico. After the completion of the first transformative step of Tannico with the acquisition of Ventealapropriete.com, thanks to this agreement the new partnership aims to continue to grow, further strengthening its presence and expertise in the online retail of spirit & wine ”. Finally, the words of Marco Magnocavallo, who underlines how "with the joint support of Moët Hennessy and Campari Group, Tannico will have the firepower to consolidate the fragmented European e-commerce sector and constitute a channel of access to the relevant market and integrated able to meet the needs of all its wine and spirits suppliers".
EFA News - European Food Agency