Italian herbal liqueur producer Amaro Lucano 1894 has acquired a majority stake in the Mancino Vermouth company, according to a report in the daily Corriere della Sera.
The move will allow Amaro Lucano 1894 to expand its product portfolio with seven labels of Vermouth produced in the Piedmont region.
Under the terms of the agreement, company founder and product inventor Giancarlo Mancino will retain the position of the director, with responsibility for business development.
Produced from a selection of 40 spices and other ingredients combined with the best Italian wines, Mancino Vermouth is used as a main ingredient in most cocktails.
A New Step
The acquisition represents a new step in the long-standing professional relationship of the two owners - Giancarlo Mancino (Mancino Vermouth) and Leonardo Vena (Lucano 1894).
Mancino Vermouth has a strong presence in the on-trade luxury market and in Asia, with 90% of turnover coming from foreign markets (over 50% in the Far East and the USA).
For its part, Amaro Lucano 1894 is a leading historical Italian producer and distributor of spirits.
Besides the famous Amaro, it produces 15 spirit labels at its two factories in Pisticci Scalo and Vico Equense, including Limoncetta di Sorrento, a high quality limoncello made with Sorrento lemons from the Sorrento IGP Consortium.
In 2018, Coca-Cola HBC Italia became the exclusive distributor in Italy for spirits owned by the Gruppo Lucano, including its key brands Amaro Lucano, Sambuca Lucano, Lucano Coffee, Lucano Limoncello, as well as Limoncetta, F.lli Vena, Grappa Barocca and Grappa Passione Bianca.