CAMPARI GROUP takes majority stake in WILDERNESS TRAIL DISTILLERY

Campari Group has entered into an agreement to acquire a 70% stake in Wilderness Trail Distillery, with a mechanism in place to acquire the remaining 30% in 2031 through a cross-option arrangement between the parties. Beyond the transaction's structure, this acquisition is a strategic move by Campari to establish bourbon as its second growth driver, alongside its historic business in apéritifs. The group aims to strengthen its presence in a high-growth category in the US, driven by premiumization and the rise of high-end and super-premium bourbons. In this context, Wilderness Trail Distillery is a particularly strategic asset, combining a developing brand with a modern industrial platform. The acquisition enables Campari to expand its portfolio of premium spirits while securing essential production and aging capabilities for the future development of its whiskey brands. In addition to the commercial benefits, the transaction also provides an evolving industrial base, capable of supporting innovation and growth across several of the group's brands in the American whiskey segment. The founders will remain involved in the project, ensuring operational continuity and preserving the technical expertise that has driven the distillery's development. Ultimately, this acquisition strengthens Campari's presence in the US market, its largest and most profitable market, while accelerating its premiumization and diversification strategy for its spirits portfolio.