Campari Group has entered into an agreement to acquire with acquired a 49% stake in Tannico, an online seller of wines and premium spirits in Italy, for consideration of €23.4m ($26.4m).

Established in 2013, Tannico has been engaged in online sales of wines and premium spirits in Italy. Its portfolio includes 14,000 wines from over 2,500 domestic, as well as international wineries and includes high-end spirits.

Under the deal, Campari will acquire 39% of Tannico’s shares and subscribe a reserved capital increase to reach a 49% shareholding.

Campari Group CEO Bob Kunze-Concewitz said: “Being an essential part of our digital transformation journey, e-commerce is a strategically relevant channel for our business. In this respect, Tannico, leading e-commerce platform for wines and premium spirits in Italy, represents a unique and strategic fit with our long-term business development goals.

“By leveraging Tannico’s expertise, we will accelerate our development plans in e-commerce, an already growing channel, but set to become even more strategic following the likely long-lasting changing consumer behaviours due to the Covid-19 emergency, largely enhancing our digital capabilities.

“Moreover, with our support, Tannico will be able to strongly accelerate its international development and the B2B services, further boosting its already extremely remarkable growth.”

Campari intends to fund the transaction using its resources and will be paid using cash. The deal is expected to close next month.

Additionally, Campari will have the option to increase its interest to 100% starting from 2025, based on certain conditions.

Tannico co-founder and CEO Marco Magnocavallo said: “In this moment, as consumers largely evolve in their purchasing behaviours getting increasingly closer to the online world, it is essential for Tannico to have the necessary resources to accelerate its development, without sacrificing the curation that characterises us.

“With Campari Group, we have found an ideal partner who can support us in consolidating our leadership in the Italian market as well as significantly expanding our business abroad and in the B2B channel.”

Last October, Campari Group acquired a controlling interest in alcoholic beverage brands Ancho Reyes and Montelobos from a group of Mexican entrepreneurs.