Campari, the famous Italian drink, may be celebrating its 150th birthday this year, but it is an American bourbon less than half its age that is driving sales at family-controlled Davide Campari-Milano.
The Italy-based business purchased the Wild Turkey brand, established in 1940, from fellow family-controlled manufacturer Pernod Ricard last year for €433 million.
According to results for H1 2010, group sales were up 16.7% to €515.7 million. Net profit rose 13.6% to €69.3 million.
Sales in the Americas, which now account for 34.1% of the group's total sales and which are driven by Wild Turkey sales, increased 46.1% on the same period last year. By contrast, total sales in Italy increased by just 2.2%, while the rest of Europe increased by 11.9%.
Non-family CEO Bob Kunze-Concewitz told Bloomberg: "There's still a lot of growth to be had in developed markets – not only Europe, but the US."
The company's share price is up 7.6% in the last six months, while 2009 revenues were up 7% to €1 billion.
The Garavoglia family purchased the business from the founding Campari family in the 1970s and today controls 51% of the group. Luca Garavoglia was confirmed as chairman for the 2010-2012 period earlier this year.
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