Campari will be contributing its stake in Tannico to the JV. Tannico focuses on online sales of wines and premium spirits under the Tannico brand. Some 92% of its business is to consumers, and it has a 30% share of this segment.
Tannico also owns a majority stake in Ventealapropriete.com, a major e-commerce platform for sale of premium wines and spirits in France.
Tannico and Ventealapropriete.com have complementary business models, territories and capabilities in terms of technology, marketing and logistics and generated pro-forma aggregated sales of more than €70 million ($83.02 million USD) in 2020.
The current CEO of Tannico will lead the joint venture.