Who Owns Campari Group Company?

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Who Owns Campari Group?

Understanding Campari Group's ownership is key to its strategy and governance. The Garavoglia family holds significant voting power due to loyalty shares, a move approved in 2015 to ensure stability and long-term growth.

Founded in 1860 by Gaspare Campari, the company has grown into a global spirits leader, ranking sixth worldwide in premium spirits as of 2024. Its portfolio includes iconic brands like Campari Group BCG Matrix, Aperol, and Grand Marnier.

The story of Campari Group begins with its founder, Gaspare Campari, who established the company in 1860 in Novara, Italy. Gaspare Campari, born in 1828, immersed himself in the beverage industry from a young age, eventually perfecting the iconic bitters-style aperitif that bears his name. This foundational period laid the groundwork for what would become a globally recognized brand, with early ownership firmly rooted in the Campari family.

Founding Vision

Gaspare Campari founded the company in 1860, driven by a passion for creating unique aperitifs.

Early Formulation

By his twenties, Gaspare had developed a bitters-style aperitif, the precursor to the modern Campari.

Milanese Roots

In 1862, Gaspare Campari opened a café near the Duomo in Milan, which became a significant social gathering spot.

Family Legacy

Gaspare's sons, Davide and Guido Campari, took over the business, continuing the family's involvement.

International Expansion

Under Davide Campari's leadership, the company began exporting its products, initiating global growth.

Early Ownership Structure

The business remained a family enterprise during its formative years, with ownership concentrated within the Campari family.

The early ownership of Campari Group was intrinsically linked to the Campari family, with Gaspare Campari as the founder and his sons, Davide and Guido, continuing the legacy. While specific details regarding initial equity splits are not readily available, the business operated as a family-controlled entity. This familial stewardship was crucial in guiding the company's evolution from a local Milanese café to an international beverage powerhouse. The expansion efforts initiated by Davide Campari, including exports to Nice and beyond, were instrumental in establishing the brand's global footprint. Understanding this foundational family ownership is key to grasping the early trajectory of Campari Group and its subsequent growth, which has seen it become a significant player in the global spirits market, as detailed in the Competitors Landscape of Campari Group.

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Campari Group's journey to its current ownership structure began with its Initial Public Offering (IPO) on the Borsa Italiana in July 2001. This significant event marked its transition to a publicly traded entity, setting the stage for its subsequent growth and evolution in the global spirits market.

The primary stakeholder in Campari Group is Lagfin S.C.A., a holding company controlled by the Garavoglia family. This family's influence is further solidified by a loyalty share scheme implemented in 2015, which grants long-term shareholders enhanced voting power. This structure ensures the Garavoglia family maintains significant control over the company's strategic direction, which has historically involved numerous acquisitions as part of its Marketing Strategy of Campari Group.

Campari Group's Ownership Dynamics

The ownership of Campari Group is largely concentrated, with the Garavoglia family holding a dominant position through Lagfin S.C.A. This control is amplified by a sophisticated voting rights structure.

• Lagfin S.C.A. holds 51.8% of ordinary shares as of June 30, 2025.
• Lagfin S.C.A. commanded 82.5% of voting rights as of August 31, 2024.
• A loyalty share scheme grants increased voting power to long-term shareholders.
• Other shareholders, excluding treasury shares, collectively own 45.7% of ordinary shares.
• Campari Group has completed over 40 acquisitions since its 2001 IPO, totaling approximately €4 billion.

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The current Board of Directors for Davide Campari-Milano N.V. for the 2025-2027 term was appointed in April 2025. Luca Garavoglia continues as Chairman, with several key executives and directors also confirmed. Simon Hunt is the newly appointed CEO and Executive Director.

Campari Group's voting power is significantly influenced by its loyalty share mechanism, which rewards long-term shareholders with enhanced voting rights. Ordinary shares carry one vote, but holding shares for two, five, or ten years can convert them into Special Voting Shares A (2 votes), B (5 votes), or C (10 votes) respectively. Further, Special Ordinary Shares can offer up to 20 votes per share, with conversion options starting in late 2028 and 2030. This structure ensures that long-term investors, particularly the Garavoglia family through their holding company Lagfin S.C.A., maintain substantial control. As of February 2025, Lagfin S.C.A. held an impressive 82.6% of the total voting rights, underscoring the family's deep influence over the company's strategic direction and governance, a key aspect of the Growth Strategy of Campari Group.

Campari Group Ownership Structure

The Garavoglia family, through Lagfin S.C.A., is the dominant shareholder in Campari Group. Their significant voting power is a result of a loyalty share mechanism.

• Lagfin S.C.A. held 82.6% of voting rights as of February 2025.
• Loyalty shares grant up to 10 votes per ordinary share after 10 years.
• Special Ordinary Shares can offer up to 20 votes per share.
• This structure concentrates control with long-term shareholders.

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In recent years, Campari Group has seen significant strategic moves, including a major acquisition and leadership changes. These developments impact its ownership trends and overall market position.

The ownership structure of Campari Group remains heavily influenced by the Garavoglia family, who maintain significant voting power through Lagfin S.C.A. This concentration is further solidified by the company's loyalty share mechanism, designed to foster long-term shareholder commitment. As of August 3, 2023, Lagfin's voting rights reached 84.0%, underscoring the family's control and strategic direction for the company. This strategic governance supports Campari's ongoing focus on innovation and growth in key global markets.

Garavoglia Family's Dominant Stake

The Garavoglia family, through Lagfin S.C.A., holds a substantial majority of voting rights, currently at 84.0% as of August 3, 2023. This control ensures a consistent strategic vision for Campari Group.

Strategic Acquisitions and Divestitures

Campari Group's recent acquisition of Courvoisier for €1.11 billion and the sale of Cinzano for €100 million highlight its active portfolio management. These moves aim to optimize value and focus on core growth areas.

Leadership Transition and Efficiency Drive

The appointment of Simon Hunt as CEO in January 2025 and the initiation of a restructuring process in February 2025 signal a focus on enhancing operational efficiency. These changes are intended to navigate financial pressures and support future growth.

Financial Performance and Market Standing

Campari Group reported 2024 full-year net sales of €3.070 million, with adjusted EBIT at €605 million. As of July 28, 2025, the company's stock price was $7.44, with a market capitalization of $8.92 billion, reflecting its significant presence in the global spirits market. Understanding the Revenue Streams & Business Model of Campari Group provides further context to these financial figures.

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