Diageo Sells Petrus Boonekamp to Gruppo Caffo 1915
Italy’s Gruppo Caffo 1915 has acquired Dutch liqueur brand Petrus Boonekamp from UK-based multinational alcoholic beverages company Diageo.
Petrus Boonekamp was created in 1777 by a Dutch distiller of the same name. It belongs to the so-called 'magenbitter' category and is popular in Northern Europe, mainly in Germany.
After being managed by the Dutch Boonekamp family, Petrus changed ownership several times over the past century. For a period it was owned by Cinzano Group which was later acquired, together with all of its brands, by Ireland’s Guinness before the latter merged into Diageo in 1977.
Calabria-based Gruppo Caffo 1915 is mainly known for the production of Vecchio Amaro del Capo, a leading bitter brand in Italy with a 32% market share and a turnover of €80 million in 2019.
Its other major assets include the Elixir Borsci S.Marzano and the Magilli distilleries.
According to the VP and CEO of Gruppo Caffo 1915, Sebastiano Caffor, “this acquisition is part of a wider project of growth through external lines, diversification and internationalisation”.
He said that the Petrus Boonekamp brand has great market potential and “will not be in direct competition with its main brand Vecchio Amaro del Capo”.
The group is planning to reorganise activities and boost the presence of Petrus Boonekamp abroad, mainly in The Netherlands, Belgium, Luxembourg and Germany "which are historically interested in the consumption of this type of bitter", reports Il Sole 24 Ore.
For 2020, Caffo is targeting a €100 million turnover through both organic growth and acquisitions. In regards to the domestic Italian market, the goal is to reach a 35% share in the bitter market segment.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine