Campari Group acquires full ownership of South Korean spirits importer Trans Beverages 

SOUTH KOREA – Italian spirits giant Campari Group has acquired all remaining shares in Trans Beverages, a South Korean spirits importer and marketer, marking a significant expansion in the competitive Korean spirits market.  

Following the acquisition, the company has been renamed Campari Korea Co., Limited, operating as a wholly owned subsidiary of Campari Group. 

This move builds on Campari’s initial 2018 investment in Trans Beverages, which was established as a joint venture with local entrepreneurs. Since its inception, the company has grown substantially, increasing its market share and establishing itself as a prominent player in South Korea’s spirits sector. 

In a statement announcing the deal, Campari Group highlighted South Korea as a “key country” for several of its flagship brands, including Wild Turkey Bourbon, The Glen Grant Single Malt, and Russell’s Reserve small-batch bourbon. 

Matthijs Kramer, managing director for Campari’s Asia-Pacific operations, expressed confidence in the Korean market’s potential.  

“The acquisition of the remaining shares reflects our strong belief in the long-term growth potential of the Korean market for our brands,” Kramer stated. “We will continue to honour the country’s rich culture and deliver on meeting the refined tastes of our Korean consumers.” 

Campari Korea managing director HoJoon Ryu reaffirmed the company’s commitment to creating value and achieving Campari Group’s long-term objectives in South Korea. 

The acquisition follows other recent investments by Campari Group. In September, the Aperol maker acquired a 14.6 percent stake in Capevin Holdings Proprietary, which owns Scotch whisky brands such as Bunnahabhain, Tobermory, and Black Bottle, for £69.9 million (US$92.3 million). 

Campari Group’s financial performance for the first nine months of 2024 revealed net sales of €2.27 billion (US$2.81 billion), a 3.4 percent increase from the previous year. 

However, EBITDA declined by 2.1 percent to €559.8 million, while profit before tax fell by 5 percent to €423 million. The group attributed the decline to challenges in the US market, extraordinary weather events in Jamaica, and other external factors. 

As Campari prepares for leadership changes with Simon Hunt set to take over as CEO in January 2025, the group has also announced plans to reduce costs and explore brand divestitures. 

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