Page created by Peter Bailey

            Consolidated non-financial declaration
   pursuant to Legislative Decree 254 of 30 December 2016,
              implementing EU Directive 2014/95
1                 2             3                                    4                                                           5
4                 6             10                                   50                                                          122
LETTER OF         NOTE ON       CAMPARI GROUP’S                      SUSTAINABILITY                                              APPENDIX
THE CHAIRMAN :    METHODOLOGY   IDENTITY                             FOR THE GROUP
                                10   About us                        52   Sustainability policies and governance                 122   Correlation table
                                                                                                                                       to the Legislative Decree 254/16
                                11   Our world                       54   Creating value for stakeholders
                                                                                                                                 132   GRI Content Index
                                14   Our history:                    55   Our stakeholders
                                     a history of culture                                                                        156   Independent auditor’s report
                                     Campari:                        56   The value chain of our products
                                     the evolution of a brand
                                     Campari Group:                  57   Materiality analysis
                                     a history of entrepreneurship

                                24   Campari Group worldwide

                                26   Growth strategy                                     60                        88
                                                                                         Our                       Responsible
                                28   Our brands:                                         people                    practices
                                     Global priorities
                                     Regional priorities

                                36   Our Master Blenders

                                38   Governance model                                    100                       112
                                                                                         Environment               Community
                                42   Risk management                                                               involvement

                                48   The Foundations:
                                     Fondazione Campari
                                     JWN Foundation
                                     Campari Foundation Mexico
Letter of
the Chairman

2018 was again a year of many developments for our Group; a year in which we               We have developed greater strategic coordination at global level to enable us to
were able to consolidate Campari’s growth path for the next years.                         better define priorities and coordinate the initiatives of the Group’s global func-
                                                                                           tions, while at the same time also involving the regional operating units via collab-
Our performance objectives have been aligned with our global strategies, ensuring          oration that goes beyond the organisational boundaries. In this way, we have iden-
a long-term vision and defining the strategic pillars that must guide the priorities       tified a roadmap with well-defined corporate priorities and global transformation
and initiatives of all Camparistas. We have included ‘Sustainability’ as the Group’s       projects. This will help us to improve the planning of our functions, align the scope
eighth strategic pillar; this will help us build a programme to foster the sustaina-       and time-scales of the Group’s initiatives in a consistent manner across business
bility topics that most characterise our business, within a clear, defined framework       units and markets, and efficiently manage resource and cost allocation.
along the entire value chain. It will become increasingly necessary for all business
structures to work together to implement cross-functional processes and projects           As confirmation that we have embarked on the right path, in 2018 we again
that can create sustainable value - i.e. value that lasts over time - and to satisfy the   achieved significant objectives, both financial and in terms of strengthening our
expectations and needs of many different stakeholders.                                     brands. This result would not have been possible without the passion and commit-
                                                                                           ment of all our Camparistas, who continued, with their entrepreneurial mindset, to
Again this year, I would like to emphasise the importance of the values that under-        develop and manage our brands. The ‘cathedral’, which is based on our people,
pin the Group’s activities. ‘Building more value together’ is still the main aim that      our brands and our values, continues to grow, becoming taller and taller each day
the Campari Group strives for and on which it wants to continue to build for future        via sustainable business growth.
years. Drawing on our pragmatism, in 2018 we added ‘Behaviours’ to our ‘Values’;
these represent the types of conduct that inspire the work of Camparistas all over
the world and constitute our way of being.

                                                                                                                                                LUCA GARAVOGLIA
METHODOLOGY                                                                    1

This Sustainability Report contains the Campari Group’s Consolidated non-financial                                                                          Also in 2017, the process of defining material issues was also reviewed and refined
declaration, pursuant to EU Directive 95/2014 and the resulting Legislative Decree                                                                          through a comprehensive benchmarking comparison with competitors in the sec-
254 of 30 December 2016. It therefore contains non-financial information, specifi-                                                                          tor, and on the basis of the results of a sustainability questionnaire distributed to
cally relating to environmental, social and employment matters, as well as respect                                                                          the Group’s entire management. In 2018, however, the materiality analysis was fur-
for human rights, anti-corruption and bribery issues. For each of these issues, and                                                                         ther updated via the involvement of one of the most important external categories
based on the materiality principle, the strategies and key impacts produced by the                                                                          of stakeholders for us: our customers and bartenders.
Group are also described.
                                                                                                                                                            Campari Group’s Sustainability Report was drawn up according to the GRI Sus-
The declaration is drawn up every financial year, and like the financial statements,                                                                        tainability Reporting Standards, the guidelines of the Global Reporting Initiative,
is approved by the Board of Directors, which is also responsible for its publication                                                                        as well as the most advanced framework for sustainability reporting used by com-
in the Companies Register. Meanwhile, the control body is responsible for ensuring                                                                          panies around the world. The document complies with the core option of GRI,
compliance with the provisions of the Decree, while an external auditor checks the                                                                          ensuring that at least one indicator for each material issue is disclosed. To incor-
layout of the declaration and its compliance with applicable laws.                                                                                          porate the key performance indicators of the GRI Standard and those aspects of
                                                                                                                                                            sustainability for which reporting is subject to clear legal obligations, as in previous
Although it started reporting socio-environmental information in 2013 on a vol-                                                                             years, Campari Group has reported some additional qualitative and quantitative
untary basis, Campari Group has verified that the information produced so far                                                                               indicators that are particularly important for a multinational operating in the spirits
complies with the recent regulatory provisions. For this reason, with the support                                                                           segment (e.g. marketing and responsible communication practices).
of external advisers, a gap analysis was performed in 2017 with the involvement of
the management of six corporate departments, which led to an action plan being                                                                              The reporting perimeter corresponds to that of the Consolidated Financial Statements
drawn up indicating areas for improvement, in order to adapt the reporting system                                                                           and, therefore, according to the requirements of Legislative Decree 254/16, includes
and the existing documentation to the provisions of Legislative Decree 254.                                                                                 data of all the Campari Group’s companies consolidated using the full consolidation
                                                                                                                                                            method with reference to the period from 1 January 2018 to December 31, 2018.

6                                                                                                                                                                                                                                                      7
                     The official text is the Italian version of the document. Any discrepancies or differences arisen in the translation are not binding
                     and have no legal effect. In case of any dispute on the content of the document, the Italian original shall always prevail.

In 2018, there was a perimeter variation com-
pared with the previous year due to the sale of
the Crodo facility (agree­ment closed on 2 Jan-
uary 2018) and the production activities of the
Sorocaba plant in July, together with the inclu-
sion, always in July, of the production activities
of the Caltanissetta and Cognac plants. For the
purposes of this report, the figures relating to
the Sorocaba plant, although it was sold in July
2018, are included in the perimeter.

The information reported refers to the period from
1 January to 31 December 2018 (fiscal year 2018);
any data relating to previous years are reported
for comparative purposes to allow performance
to be assessed on a multi-annual basis. The col-
lection and monitoring of data is managed via
our sustainability platform (Enablon), which was
initially adopted by the Quality, Health, Safety and
Environment function in 2016, and then extend-
ed to all business units involved in sustainability
reporting, notably Marketing, Human Resources,
Legal and Public Affairs, in 2017. Data collection is
undertaken locally and double-checked at coun-
try and regional level. Additional sample checks
are carried out by the Group’s heads of functions
and by Internal Audit to ensure maximum data
consistency. The adoption of the platform ena-
bles us to monitor our performance more effec-
tively and to define internal targets for medium-                                                                  2
to long-term overall improvement.

For the second time, the document was exter-
nally certified by the auditing company Price-                                                                                                                           19   Production Sites

waterhouseCoopers S.p.A., which had already
                                                                                                                                                                         20   Co-packers
been engaged to audit the Company’s financial
                                                                                                                       Campari Group’s sustainability reports can
statements at the shareholders’ meeting of 30                                                                                                                            32   Offices
                                                                                                                       be viewed and downloaded in Italian and English
April 2010. The relevant certification is shown in
                                                                                                                       from the website:                                 25   Countries (excluding co-packers)
the ‘Independent Auditor’s Report’ attached.
                                                                                                                         1    Bar - Camparino

8                                                                                                                                                                                                                9
                      The production facilities counted include the Sorocaba plant, which was sold in July 2018.

                                                                                                                         Last year, at the Group Management Conven-          Essence, Mission, Values and Behaviours. We
                                                                                                                         tion 2017, we started to work on defining a re-     further developed these elements during the
                                                                                                                         newed business culture. This process enabled us     year, paying great care and attention to pre-
                                                                                                                         to identify the defining aspects of our culture     serving their original meaning.
                                                                                                                         and the constituent elements of our identity:

                                                                                                                                        ESSENCE                                              VALUES
                                                                                                                                         MISSION                                        BEHAVIOURS
                                                                                  1        DIAGEO

Campari Group, a leading company in the glob-                                     2        PERNOD RICARD
al branded beverage industry, was founded in                                                                             ESSENCE                                             categories and become real leaders. We do it
                                                                                  3        BACARDI
Milan in 1860, when Gaspare Campari created                                                                                                                                  by combining preliminary, strategic in-depth re-
the world-famous red aperitif.                                                    4        BROWN-FORMAN                  The Group essence ‘Toasting Life Together’          flection and planning with excellent execution
                                                                                  5        BEAM SUNTORY
                                                                                                                         shows the fundamental role that our people          and attention to detail. We do it by creating a
With a portfolio of over 50 premium and super                                                                            play in ensuring the success of the business. For   balanced mix of ‘myth’ and ‘ritual’. By ‘myth’, we
premium own brands, marketed and distributed                                      6        CAMPARI GROUP                 this reason, Campari Group’s people (‘Campar-       mean always aiming to build brand equity, pre-
in over 190 countries worldwide, it has leadership                                7        CONSTELLATION BRANDS
                                                                                                                         istas’) are offered the opportunity to continu-     mium-ness and uniqueness. By ‘ritual’, we mean
positions in Europe and the Americas. Campari                                                                            ously develop the skills they already have while    constantly associating our strategic thinking with
Group is now the sixth-largest branded spirits                                    8        E. & J. DISTILLERS            also acquiring new ones. ‘Toasting Life Together’   the creation of compelling and surprising con-
group in the world3 and employs around 3,700                                      9        MAST-JÄGERMEISTER             also celebrates the positive role that our brands   sumer experiences’ (Andrea Neri, Managing Di-
people. Our main competitors are:                                                                                        and drinks play in enhancing sociable occa-         rector Italian Icons & Gin).
                                                                                  10       THE EDRINGTON GROUP
                                                                                                                         sions, encouraging people to get to know each
                                                                                                                         other, and celebrating life in a positive and re-   ‘In Campari Group, we have a true passion for
                                                                                                                         sponsible way.                                      our work and are deeply committed to pro-
                                                                                                                                                                             ducing iconic brands. They are iconic because
           MANUFACTURING PLANTS                                                  PROPRIETARY DISTRIBUTION NETWORK IN                                                         they attract consumers, customers, bartenders

                     18                                                               20
                                                                                                                                                                             and influencers from all over the world due to
                                                                                                        COUNTRIES        MISSION                                             their unrivalled quality and their intriguing and
                                                                                                                                                                             authentic stories’ (Julka Villa, Managing Director
                                                                                                                         ‘The smallest large group in the spirits sector,    Global Spirits).
              HEADQUARTERED IN                                            SINCE 2001 THE SHARES OF THE PARENT COMPANY,   which creates iconic brands and generates
                                                                                  DAVIDE CAMPARI-MILANO S.P.A.,          better results, together with inspired and pas-     ‘‘Together’ is the way in which we see our work,
             SESTO                                                                    HAVE BEEN LISTED ON THE            sionate Camparistas’.                               a joint effort by us Camparistas and our cus-
         SAN GIOVANNI                                                                  ITALIAN STOCK                     ‘What does it mean to create iconic brands?
                                                                                                                                                                             tomers and partners, as we work passionately
                                                                                                                                                                             to deliver each brand and each cocktail served’
            (MILAN)                                                                      EXCHANGE                        We produce unique brands that excel in their        (Giorgio Pivetta, Head of Group HR).

10                                                                                                                                                                                                                          11
                     Fonte: Impact’s top 100 Premium Spirits Brands Worldwide by Company, March 2018.
VALUES                                                                                                     BEHAVIOURS

Passion                                              Together                                              Humble and Hungry                                     Always act with passion
Passion is a defining trait of our way of thinking   ‘Together’ is our team philosophy. It is the com-     ‘Humble and Hungry’ means continuously put-           Passion is a defining trait of our way of thinking
and acting in Campari Group. We are passion-         mon thread that connects the nature of what we        ting ourselves to the test, stepping out of our       and acting in Campari Group. We are passionate
ate about our sector, our work and our brands.       do with how we do it; it involves the joint efforts   comfort zone, being open to change, rectifying        about our sector, our work and our brands. We
We work as a team and always give our utmost         of Camparistas (including customers and con-          our mistakes and learning from them, and con-         work as a team and always give our utmost to
to ensure that our consumers have positive ex-       sumers) all over the world, passionately working      tinuing to do the things that we do but aiming        ensure that our consumers have positive experi-
periences with our brands day after day.             on each brand and each cocktail that is served.       to do even more and doing them better.                ences with our brands day after day.
                                                     Together we knock down silos, break every cul-
                                                     tural, organisational and geographical barrier,
Integrity                                            and all move in the same direction to achieve         Respect others and our planet                         Simplify and do more with less
We hire, develop and value people who work           our common goal.                                      Campari Group has always supported responsi-          We eschew bureaucracy and firmly believe in
in a transparent way. For us, integrity means liv-                                                         ble and sustainable behaviour, which it considers     a practical approach. Simplicity underpins our
ing responsibly as part of the organisation and                                                            of paramount importance for the Group’s growth.       actions. Our unique structure allows us to take
treating all our stakeholders with the utmost                                                              Sustainability, which runs through all our business   agile and customer-focused decisions, while
respect; it also, and most importantly, means                                                              activities, is part of our DNA. The path we have      benefiting from synergies and the sharing of
ensuring that fairness, honesty and consistency                                                            followed over the last few years has allowed us to    know-how across the whole Group.
underpin our way of doing business and guide                                                               achieve a greater level of maturity and awareness
the professional life of all Camparistas.                                                                  of the fundamental role that the business world
                                                                                                           can, and must, play in society.                       Welcome challenges and drive change
                                                                                                                                                                 We are a Group that evolves and changes rap-
Pragmatism                                                                                                                                                       idly, and which operates in a volatile and highly
In all functions, and at all levels, we encourage                                                                                                                dynamic competitive environment. Against this
and reward a pragmatic attitude towards resolv-                                                                                                                  backdrop, each day brings new challenges and
ing problems and tackling challenges. We es-                                                                                                                     opportunities for us. To contribute to the Group’s
chew bureaucracy and firmly believe in a prac-
                                                                                                                  HUMBLE AND HUNGRY                              success in the context in which we operate, each
tical approach. Simplicity underpins our actions.                                                                                                                Camparista must embrace the challenges that
Our unique structure allows us to take agile and                                                                      RESPECT OTHERS                             arise and drive change. Staying in our comfort
customer-focused decisions, while benefiting
from synergies and the sharing of know-how                        PASSION                                             AND OUR PLANET                             zone and protecting the status quo regardless,
                                                                                                                                                                 is not a viable option.
across the whole Group.
                                                                                                              ALWAYS ACT WITH PASSION
                                                                INTEGRITY                                                                                        Creating more value together
                                                                                                                                                                 We must knock down silos and ensure we are
                                                                                                                 SIMPLIFY AND DO MORE                            all moving in the same direction, better synchro-
                                                           PRAGMATISM                                                  WITH LESS                                 nising our capabilities and strengths, in order to
                                                                                                                                                                 accelerate growth and optimise costs. The only
                                                                                                                                                                 way to release the potential of our organisation
                                                                                                                 WELCOME CHALLENGES
                                                               TOGETHER                                           AND DRIVE CHANGE                               is to adopt a more synchronised approach to the
                                                                                                                                                                 way in which we do business and focus on our
                                                                                                                                                                 priorities. All Camparistas can play a key role in
                                                                                                                 CREATING MORE VALUE                             creating our iconic brands and generating better
                                                                                                                      TOGETHER                                   financial results, by consistently acting in accord
                                                                                                                                                                 with our Values and Behaviours, and overcoming
                                                                                                                                                                 every obstacle.

12                                                                                                                                                                                                              13

         1860                              1904                              1915                                                                 1920
              -                                -                              -                                                                     -
        t he origin                        Getting                  The Camparino bar                                                      Classic cocktails
                                            bigger                  in Milan’s Galleria                                                   and the association
                                                                                                                                               with art

Novara, Italy. Spirits-maker       On 1 October 1904, the first    A mainstay of Italian aperitifs,   Classic cocktails, first and        many great artists of the era   poster became an icon of
Gaspare Campari’s experi-          manufacturing plant opened      the Camparino bar opened in        foremost the Americano and          started to work with Campari,   the product. A figure halfway
ments culminated in the in-        in Sesto San Giovanni, Milan.   Milan city centre, alongside the   the Negroni, were created,          giving rise to the historic     between a spirit and a jester,
vention of a new drink with a                                      Cathedral in Galleria Vittorio     becoming increasingly popular       association between the brand   wrapped in orange peel,
distinctive bitter flavour and a                                   Emanuele II, and quickly be-       and famous; today they are          and the art world. In 1921,     suggesting one of the classic
recipe that has remained a se-                                     came one of the symbols most       included in the ‘unforgettable’     Leonetto Cappiello created      Campari combinations, offers
cret to this day.                                                  commonly associated with of        category of the IBA official list   the famous ‘Spiritello’, for    the observer a bottle of bitter.
                                                                   the city, along with fashion       of cocktails. At the same time,     example, and its advertising
                                                                   and design.

14                                                                                                                                                                                                     15
Art became more geometric and            structured forms. An avant-garde        reprised by architect Mario Botta,     The strong link between Campari     of Modern Art, New York. In the
dynamic, and the styles more dis-        choice for Campari, Depero was          project manager for the Campari        and art continued. In 1964, Bruno   work, the artist breaks down and
tinctive, and Campari’s advertising      an artist with a synthetic, graphic,    Headquarters building in Sesto         Munari produced the ‘Declinazi-     reassembles the various lettering
could not fail to reflect these chang-   almost stylised style, who experi-      San Giovanni, who transferred the      one grafica del nome Campari’       styles used by the company over
es. The collaboration with Depero        mented with solutions that are still    sketch to a bas-relief on the left-    (‘Graphic variations of the Cam-    the years. The poster became a
represented an important turning         current today. One example is           hand side of the historic building,    pari name’), a poster designed      symbol of the infinite number of
point for the advertising material,      Depero’s iconic ‘little robot’, a sy-   the Group’s first plant, inaugurated   for the opening of the first line   interpretations that only Campari -
which was enhanced in that peri-         phon that sprayed soda water into       in 1904, and which is today home       of the Milan metro, and now on      with its uniquely versatile combina-
od with mechanical designs and           a glass of Campari bitter; this was     to the Galleria Campari.               permanent display in the Museum     tions - could inspire.

           1930                                                                                                                  1960
             -                                                                                                                    -
       The Futurist                                                                                                          underground
          period                                                                                                                 pop

                                                    1940                                   1950                                                                        1970                                 1980
                                                       -                                      -                                                                      -                                          -
                                                    Rebirth                              The world                                                           International film                            A unique
                                                                                          of sport                                                          stars and directors                            lifestyle
                                                                                                                                                                and Campari

                                         At the end of the 1940s, after          Artists such as Felice Mosca,                                              Campari’s partnerships with            During the 1980s, a period of
                                         a forced hiatus occasioned by           Attilio Rossi and Giovanni                                                 famous actors and directors,           great economic and cultur-
                                         the war, the brand launched a           Mingozzi expressed the Cam-                                                which started in the 1970s,            al growth, Campari was at the
                                         new advertising campaign in             pari energy and dynamism in                                                reached its peak in 1985, when         centre of the most exclusive and
                                         partnership with avant-garde            posters inspired by the world                                              the Italian director Federico          distinctive occasions at which
                                         artist Carlo Fisanotti.                 of sport. The image of the                                                 Fellini shot his first television      drinks were served, and star of
                                                                                 bottle of Campari travelling                                               advertisement for Campari.             the famous ‘Milan aperitif’.
                                                                                 around the world like a sput-
                                                                                 nik is still iconic.

16                                                                                                                                                                                                                              17
                                       For the World Cup in Italy in   tles of Campari and Campari                 Hotel                              Campari                              Club
                                                                                                                  Campari                              Tales                              Campari
                                       1990, Ugo Nespolo created an    Soda. The campaign highlight-
                                       advertising campaign for the    ed the role of the aperitif and
                                       company based on football,      of Campari, like football, as
                                       which showed a winning Cam-     one of the great passions of      The first global TV advertis-       For the 2008 edition of the        For its tenth anniversary, the
                                       pari team made up of bot-       the Italian people.               ing campaign for the brand          Campari calendar, Eva Mendes       2010 Campari calendar por-
                                                                                                         starred Salma Hayek, direct-        starred in Campari Tales. The      trayed a seductive, elegant Jes-
                                                                                                         ed by Matthew Rolston in the        cover and 12 tales told a mag-     sica Alba, star of ‘Club Campari’,

                                         Italia 90                                                       ‘Le Connaisseur’ commercial,
                                                                                                         which was filmed in an imag-
                                                                                                                                             ical story via Mario Parisotto’s
                                                                                                                                             13 shots, which creatively em-
                                                                                                                                                                                the film directed by designer,
                                                                                                                                                                                photographer and director Jean
                                                                                                         inary Hotel Campari. The ac-        bodied the ‘Red Passion’ value.    Paul Goude. The commercial
                                                                                                         tress, an icon of sensuality, but                                      represented a place that was
                                                                                                         at the same time sophisticated,                                        both real and imaginary with
                                                                                                         elegant and headstrong, was                                            the most exclusive clubs on the
                                                                                                         subsequently immortalised by                                           planet: enjoyable, provocative
                                                                                                         photographer Mario Testino in                                          but, most importantly, sociable,
                                                                                                         the 2007 Campari calendar.                                             in line with the brand’s values.

                                                                                                                   2010 - 150 years of Campari

                                                                                                           The limited edition                        Campari                            Galleria
                                                                                                               ‘Art Label’                            Milano                             Campari
             -                                                                                           The AVAF (assume vivid as-          The city of Milan, where it all    In 2010, the new Galleria Cam-
          Tarsem,                                                                                        tro focus) art collection and       started, framed the special        pari opened its doors. A special
     A Director's cut                                                                                    international artists Vanessa       edition 2010 Calendar, which       space symbolic of the strong
                                                                                                         Beecroft and Tobias Rehberger       starred the seductive Olga         connection between Campari
                                                                                                         celebrated Campari’s 150 years      Kurylenko, shot by talented        and the art world, the gallery
At the end of the 1990s, Cam-                                                                            by creating the Campari Art La-     young photographer Simone          was created with the aim of
pari launched a new partnership                                                                          bels, a limited edition of three    Nervi.                             revisiting this historic link using
with the famous Indian director,                                                                         commemorative labels. A tradi-                                         modern, contemporary tech-
Tarsem, who filmed the excep-                                                                            tion that marks the connection                                         nology to provide an experi-
tional TV commercial ‘Il Graffio’                                                                        between brand, product and                                             ence to be enjoyed.
(‘The Scratch’), the first to broach                                                                     art, and which will be replicated
the subject of female homosex-                                                                           each year from now on.
uality in Italy, for the ‘Campari
Red Passion’ campaign.

18                                                                                                                                                                                                             19
Kate Hudson was the star of                                             The Red Diaries project con-
                                   the 2016 Campari Calendar,                                              tinued: in 2018, Campari chose
                                   entitled BitterSweet Cam-                                               Stefano Sollima to recount
                                   paign. The different facets of                                          how, behind every cocktail,
                                   the campaign reflect the un-                                            there is a hidden story. Actors
                                   mistakeable Campari taste,                                              Zoe Saldana and Stefano Solli-
                                   with its dual but complemen-                                            ma are the stars of an intense,
                                   tary nature, in which either the                                        compelling story and a journey
                                   ‘bitter’ or the ‘sweet’ side pre-                                       around the world in search of
                                   vails depending on the type                                             the perfect cocktail. The film
                                   of blending, with both aspects                                          shows the imagination and
                                   portrayed by the Hollywood                                              creativity of bartenders, no-
                                   actress in the Calendar’s 13 im-                                        tably celebrating the talent of
                                   ages, the work of international                                         the ‘Red Hands’, the only ones
                                   fashion photographer Michel-                                            that can create the best cock-
                                   angelo di Battista.                                                     tails in the world.

                                         BitterSweet                                                             The Legend
                                           Campaign                                                              of Red Hand

          The Red                                                        Campari Creation                                                    If your soul is curious,
          Affair                                                           e Killer in Red                                                        enter the red

The 2011 Campari Calendar was                                          Paolo Sorrentino relates the                                          The new short movie from the          the film, which brings to life its
the first to feature a male ac-                                        Campari Red Passion story in                                          Red Diaries project. Following        most symbolic places, such as
tor, Oscar-winner Benicio Del                                          a new communications cam-                                             the Campari philosophy that           the extraordinary Galleria Vit-
Toro, who, through the shots of                                        paign, with a film that express-                                      'every cocktail tells a story', the   torio Emanuele II, location of
Michel Comte, told the tale of                                         es the full essence of the brand,                                     firm marks the start of the cel-      the iconic Camparino in Gal-
the Red Affair, the adventure of                                       because 'nothing is created                                           ebrations for the 100th anniver-      leria bar, and the Cathedral, all
a charming art-lover.                                                  without passion'. In 2017, Paolo                                      sary of Negroni, the world-fa-        transformed for the occasion
                                                                       Sorrentino also wrote and di-                                         mous iconic cocktail that has         with a splash of Campari red.
                                                                       rected an intriguing film noir                                        Campari as its key ingredient.
                                                                       featuring Clive Owen; this was                                        Portrayed by actress Ana de Ar-
                                                                       the film that launched Red Dia-                                       mas and Italian actor Lorenzo
                                                                       ries, the cinematic evolution of                                      Richelmy, ‘Entering Red is di-
                                                                       the Campari Calendar. Playing                                         rected by multi-award-winning
                                                                       the role of famous bartender                                          Italian director Matteo Garrone.
                                                                       Floyd, the actor tells the story                                      Milan, Campari's city of ori-
                                                                       of the Killer in Red cocktail.                                        gin, plays an important role in

20                                                                                                                                                                                                               21
The Group made its first acquisition in 1995, marking the start of a strategy that still
                                                                today combines 50% organic growth with 50% external growth. Since then, each
A HISTORY OF                                                    brand that has joined the Group has brought with it a unique history and identity.

ENTREPRENEURSHIP                                                • 27 acquisitions since 1995 for a total value of over €3 billion;
                                                                • 12 sales since 2013;
                                                                • Disposals amounting to around €380 million since 2016.



 1995          2001          2003          2006          2008     2009                        2011           2013          2016               2018

        1999          2002          2004          2007                              2010             2012           2014            2017

22                                                                                                                                                   23
                                                                * Distribution Company
                                                                ** Contract beverage Packer

Since 2004, Campari Group, headquartered in
Sesto San Giovanni (Milan), has been developing
a proprietary direct distribution network, which
has grown in 15 years from five to 20 markets
worldwide and represents over 90% of total sales

                                     CANADA            1

                                     UNITED STATES     1

                                     MEXICO            1

                                     JAMAICA           3

                                     BRAZIL            1   ITALY      4

                                     ARGENTINA         1   GREECE     1

                                                           SCOTLAND   1
The Group brought the bottling activities in the
                                                           FRANCE     3
core markets of the US and Australia in-house
and, since 2004, has been increasing the number
of production sites around the world (from eight
to 18 at 31 December 2018).
The distribution subsidiaries in 2004 were in Italy,
Germany, United States, Brazil and Switzerland.                           AUSTRALIA   1
The expansion since 2004 referred to Austria,
China, Argentina, Mexico, Ukraine, Belgium,
Luxembourg, Australia, Russia, Jamaica, the UK,
Spain, Canada, Peru and South Africa.

 Distribution subsidiaries in 2004

 Expansion from 2004

24                                                                                        25

In 2018, Campari Group’s consolidated sales                               where a direct sales force was recently launched,
were €1,711.7 million, down -2.4% compared with                           as well as in the US and China, key markets for
2017. Sustained organic growth of +5.3% for the                           the cognac category. Lastly, it further increases
year was completely offset by negative perim-                             the Group’s exposure to the super premium seg-
eter and exchange rate variations of -3.4% and                            ment of the on-premise distribution channel in
-4.2% respectively. Sales increased in all the                            both developed and emerging markets.
main geographical regions, especially in the
high-margin markets of North America, west-                               In March 2018, the Group signed an agreement
ern Europe and Australia. Growth was driven by                            to create Trans Beverages Co. Ltd, a joint venture
the continuous outperformance of global pri-                              in South Korea, with a local partner, BNC F&B Co.
ority brands (+8.9%) and the positive result of                           Ltd., a group operating in the food & beverage
high-margin regional priority brands (+2.8%) in                           sector, with the aim of promoting and developing
the major developed markets.                                              the Group’s products in this geographical region.
                                                                          The Group has a call option on the remaining
Campari Group’s growth strategy combines                                  holding of 60% of the share capital.
organic growth, pursued through strong
brand-building, and external growth via acquisi-                          On 2 January 2018, the Group closed an agree-
tions focused on the core business of spirits, in                         ment to sell the Lemonsoda range, for net to-
order to achieve or improve on its critical mass                          tal proceeds of €80.2 million, to Danish-based
in the key geographical markets.                                          beer and non-alcoholic drinks manufacturer
                                                                          Royal Unibrew A/S. In addition to the Lemon-
On 31 January 2018, the Group closed the agree-                           soda, Oransoda, Pelmosoda and Mojito Soda
ment to acquire Bisquit Dubouché et Cie from                              brands, and the Crodo brand (excluding Crod-
South African group Distell, corresponding to a                           ino), the sale encompasses the manufacturing
net cash outlay of €52.7 million. The company,                            and bottling facility in Crodo, water springs and
which owns the Bisquit brand, is a cognac pro-                            inventory. At the same time, a multi-year man-
ducer located in the French town of the same                              ufacturing agreement was signed, under which
name. The acquired business includes inventory,                           Royal Unibrew will continue to manufacture
particularly maturing stock, brands and produc-                           some of the products owned by Campari Group

                                                     50%       50%
tion facilities, such as warehouses for the matur-                        that are currently bottled at the Crodo plant.
ing process, blending cellars and bottling lines.                         As part of its strategy to reduce its non-core
The brand’s key markets are South Africa, Bel-                            assets, this transaction marks Campari Group’s
gium, the duty free channel and Switzerland. As                           exit from the soft drinks business, retaining only
a result of the acquisition of the super premium                          the Crodino brand, in order to focus more on
brand Bisquit, the Group is expanding its offer-     ORGANIC   EXTERNAL   the aperitif segment in Italy.
ing in the cognac category and taking full control   GROWTH     GROWTH
of its maturing process. It is also creating brand                        Lastly, the agreements to distribute Brown Forman
innovation opportunities, including in conjunc-                           products in Italy were terminated in April 2018.
tion with Grand Marnier. Commercially, the deal                           Sales, mainly relating to the Jack Daniel’s brand,
further strengthens the Group’s distribution plat-                        represented around 2% of Group sales in 2017.
form, particularly on the South African market,

26                                                                                                                      27

              Campari Group has a portfolio of

     over 50 premium
and super premium brands
       divided into global, regional and local priorities

                    Global                                  regional
                   priorities                               priorities


   APPLETON ESTATE                                                  APEROL                                       WILD TURKEY                                      GRAND MARNIER                                               CAMPARI                                          SKYY VODKA
With Appleton Estate, which became part of            Aperol was founded in 1919 in Padua, an in-        The acquisition of Wild Turkey in 2009 helped         Campari Group acquired Grand Marnier in July      The quintessential aperitif with its unmistakable     Campari Group, which had already acquired
the Group portfolio in 2012, Campari Group            vention of brothers Silvio and Luigi Barbieri.     to strengthen Campari Group’s leadership              2016, when it took over the Société de Produits   red colour is today one of the most famous            a minority stake in Skyy Spirits LLC in 1998,
entered the rum category, further consolidat-         Since then, Aperol’s popularity has grown          position in the US and international premium          Marnier Lapostolle (SPML), founded in 1827.       brands in the world, sold in over 190 countries.      acquired a further 50% in 2001, increasing its
ing its critical mass in North American markets,      exponentially, thanks to its fresh taste and       spirits markets.                                      The liqueur is said to date back to 1827 and      The original recipe was created in Novara in          interest to 100% in 2006.
particularly the United States, Canada, Mexico        compatibility with various other drinks, giv-      It has been the authentic Kentucky Straight           was originally called Curaçao Marnier, one of     1860, the result of experimentation by Gaspare        SKYY Vodka, created in 1992, is now the
and the Caribbean.                                    ing an unmistakable flavour to even the most       Bourbon Whisky since 1855, whose original             many versions of Triple Sec, which was much       Campari. Made from an infusion of bitter herbs,       fifth-largest premium vodka in the world. It
Appleton Estate is Jamaica’s oldest sugar cane        elaborate cocktails. Acquired in the 1990s by      distillation and maturing process has not been        in vogue in the second half of the nineteenth     aromatic plants, fruit in alcohol and water, it       has revolutionised the alcohol market due to
plantation and distillery. The earliest record of     Barbero 1891 S.p.A., Aperol became part of         changed since it was first introduced. Wild           century. It was in 1880, however, that liqueur    forms the basis of numerous cocktails. In 1904,       its innovative quadruple-distillation and tri-
rum production on the estate dates from 1749,         the Campari Group brand portfolio in 2003,         Turkey uses a distinctive process in which the        merchant Louis-Alexandre Marnier Lapostolle       the first manufacturing plant was established in      ple-filtration process, which ensures a product
although its origins date back to 1655, when          achieving new records in terms of internation-     bourbon (typically American whisky, recog-            chose to combine a young cognac with es-          Sesto San Giovanni, Milan. It is a classic, sophis-   of proven quality and softness with very few
the British conquered Jamaica. Appleton Es-           al spread and popularity.                          nised by Congress in 1964 as ‘America’s Native        sence of Caribbean oranges and added syrup.       ticated, top-class and high-quality brand, but        impurities. It is distilled in the United States
tate Jamaica rums have a unique profile, and          Aperol’s highly secret recipe, which includes      Spirit’) is distilled at a low proof to seal in its   The result, briefly barrel-aged to combine the    is always evolving and at the cutting edge, a         from wheat grown in the Midwest. With its
are only produced on one Jamaican estate              infusions of fine ingredients, herbs and roots     flavours. It is then aged in white oak barrels,       ingredients, has made Grand Marnier one of        symbol of Italian excellence.                         iconic, cobalt-blue bottle, which reflects the
within an enclosed area in the Nassau Valley.         in perfect harmony, gives it an unmistakea-        which gives it its typical rusty colour and full      the best-known French liqueurs in the world.                                                            name of the product, SKYY was the first vodka
At Appleton, rum production is regarded as an         ble bitter-sweet taste. Another strength that      flavours of vanilla and caramel. The addition of                                                                                                              to introduce packaging as a ‘style image’.
art, and the process is controlled at every stage,    makes it the perfect aperitif is its low alcohol   a little water gives the product a rich and au-
encompassing the selection of sugar cane vari-        content of only 11%.                               thentic taste, as if just tapped from the barrel.
eties harvested on the estate, the natural culti-                                                        Under the guidance of Master Distiller Jimmy
vation of yeast used in fermentation, distillation,                                                      Russell, who has worked in the distillery for 55
blending methods and rum bottling.                                                                       years, the Wild Turkey Bourbon offering has
Appleton Estate Signature Blend is the best-                                                             seen extraordinary growth. Alongside the clas-
known rum in the Appleton Estate family, cre-                                                            sic Wild Turkey 101 Bourbon, the distillery also
ated from a blend of 15 aged rums.                                                                       makes Rare Breed, Kentucky Spirit, Wild Turkey
                                                                                                         80, Wild Turkey Rye and American Honey.

30                                                                                                                                                                                                                                                                                                                31


             ESPOLÓN                                                                                                 AVERNA
             Espolón is a super premium tequila with 100%       tional pride and independence. Master distiller      Averna, acquired by Campari Group in 2014,             of the growth and status gained by the product
             pure blue agave, distilled and bottled at the      Cirilo Oropeza has decades of experience and         represents the true Sicilian character, with a story   in Italy, in 1912, King Vittorio Emanuele III granted
             San Nicolas distillery, Los Altos in the Mexi-     craftsmanship in the creation of Tequila Es-         that has its roots in the wonderful Caltanisset-       Averna the right to print the wording ‘Patent of
             can region of Jalisco. Established in 1998, San    polón. The production process involves cooking       ta region. The secret recipe was created in the        the Royal House’ on the label.
             Nicolas combines the environment and culture       the agave for 18-20 hours, six hours longer than     early nineteenth century by Capuchin friars in         The production process started with a combina-
             of the ancient Mexican distillery with the most    the sector average, while the distillation process   Santo Spirito Abbey and, in 1868, was given as a       tion of bitter orange and Sicilian essential oils,
             modern and cutting-edge production technol-        lasts five and a half hours compared with a sec-     gift by Brother Girolamo to textile merchant Sal-      pomegranate peel and other herbs, roots, nat-
             ogy, and was judged the ‘Best Tequila Factory      tor average of three and a half. There are two       vatore Averna as a gesture of gratitude for the        ural spices. In 2018, Averna celebrated its 150th
             in Mexico’, a prize awarded by the School of       varieties of Espolón: Blanco, which is clear in      dedication he had shown to the local commu-            anniversary with the launch of the first aged ver-
             Architects and Engineers in Jalisco. The label,    colour, delicate with sweet notes of agave and       nity. Salvatore launched production of the drink,      sion, Averna Riserva Don Salvatore, which has a
             which was inspired by nineteenth-century Mex-      a medium-bodied palate, and Reposado, ma-            passing on the business to his son Francesco,          stronger and more intense taste. This is created
             ican classical art, depicts figures from Mexican   tured for six months in American oak barrels,        who deserves the credit for getting the product        by letting the liquid mature in oak barrels for 18
             folk tradition, Guadalupe, Rosarita and the        giving it a rich golden colour, a spicy aroma        known at Italian and foreign trade fairs. In view      months with a perfect blend of ingredients.
             proud rooster, Ramón, Mexico’s symbol of na-       and a strong, full-bodied taste.

             BULLDOG                                                                                                 BRAULIO
             BULLDOG London Dry Gin was created                 and violet tones and its minimalistic design,        Braulio was born in Bormio, Valtellina (north-         The Riserva Speciale Millesimata is kept for a
             in 2007 thanks to businessman Anshuman             also perfectly expresses the modern and ap-          ern Italy) in 1875 from the meticulous research        longer period (21 months) in the smallest barrels
             Vohra, who decided to create an innova-            pealing spirit of BULLDOG.                           of pharmacist Francesco Peloni, a specialist           in the Braulio cellars. Once the liquid has com-
             tive gin inspired by his travels around the        Only two years after its launch in the United        in medicinal aromatic herbs. Braulio, which is         pleted the maturing process in the barrels, it is
             world. The 12 constituent ingredients come         States, Bulldog also began to gain popular-          made from an infusion of plants, roots and wild        delicately filtered to better preserve the plant
             from eight different countries, including ju-      ity in Europe. Since 2014, Campari Group             Alpine herbs, according to a recipe that has           components of the liqueur and further bring out
             niper from Italy, coriander from Mexico, lav-      has distributed the brand via its own distri-        been passed on from generation to generation           the highly characteristic scents of the aromatic
             ender from France, Dragon Eye from China           bution network, obtaining full ownership in          and is still secret today, is matured in Slovenian     plants. In 2018, to meet the increasing global
             and white poppy seeds from Turkey, and are         2017. Bulldog is today available in 95 coun-         oak barrels for 15 months in cellars proliferating     demand for Braulio, new cellars were built in
             perfectly blended following four distillation      tries and has been classified by IWSR (In-           under the houses of the old city. Only four of         Bormio: over 1,650 sq.m. of additional space, of
             processes that give the produce a fresh,           ternational Wine and Spirit Research) as the         the many herbs used in producing Braulio am-           which 1,200 sq.m. consists of maturing cellars,
             fruity taste. The bottle, with its dark black      fourth-best premium gin in the world.                aro are well-known: achillea moscata, absinthe,        will make it possible to produce 166 new barrels,
                                                                                                                     juniper and gentian.                                   more than doubling production capacity.

             FRANGELICO                                                                                              CYNAR
             In its characteristic bottle, shaped in the form   to make this liqueur; the process involves toast-    Cynar is a bitter-sweet liqueur, created by An-        and the unforgettable slogan ‘Contro il logorio
             of a monk with clasped hands, Frangelico is a      ing and distilling, after which it is combined       gelo dalle Molle, a Venetian entrepreneur and          della vita moderna’ (‘Combating the strain of
             hazelnut liqueur from Piedmont, which traces       with coffee, vanilla, cocoa and other secret ar-     philanthropist, and was launched in Padua (It-         modern life’). Since then, the brand, which was
             its origins back to the seventeenth century. Ac-   omatic herbs. The Frangelico brand was born          aly) in 1950. Its name comes from Cynar scoly-         acquired by Campari Group in 1995, has grown
             cording to legend, it owes its name to a hermit    in 1978, created by the Barbero family, becom-       mus, the botanical name for ‘artichoke’, its par-      and is now distributed internationally. Its three
             monk (Fra’ Angelico) who lived in the Langhe       ing part of Campari Group’s brand portfolio in       ticular and distinctive ingredient, infused with       core markets are: Italy, Switzerland and Brazil.
             hills of Piedmont, the area famous for the Ton-    2010. Today it is marketed mainly in Germany,        another 12 herbs and plants. It became popular         Cynar 70 Proof, which was developed from the
             do Gentile hazelnut, the main ingredient used      Spain and the United States.                         in Italy thanks to the advertising carried out         same secret recipe as Cynar, has distinctive
                                                                                                                     during the Carnival with actor Ernesto Calindri        herbal notes marrying with hints of dried fruit.

32                                                                                                                                                                                                                         33
GLENGRANT                                                                                                CINZANO
     Created in 1840 by brothers John and James           restoration in 1993-1996, the gardens are today     From their small shop in Turin, in 1757, master      the city with thousands of Cinzano promo-
     Grant, GlenGrant is one of the best-selling          open to the public and represent an extraor-        distillers and brothers Giovanni Giacomo and         tional cardboard disks. The strong connection
     single malt Scotch whiskies in the world. Its        dinary example of late 19th-century Victorian       Carlo Stefano Cinzano researched a new and           with art also continued in the next century: in
     main markets include: Italy, where it enjoys a       gardening style. GlenGrant, together with Old       unique line of aromatised wine-based drinks          the mid-1900s, Cinzano's advertising spread to
     position of leadership, France and Germany.          Smuggler Scotch Whisky, has been part of            (vermouths) and opened Casa Cinzano, the             the cinema, radio and television. The Cinzano
     GlenGrant is a delicate but complex whisky           Campari Group’s product portfolio since 2006.       first small shop for the brand. It was their inno-   TV commercials with Leonard Rossiter and
     produced with barley malt, extremely pure            For the third year in a row, the GlenGrant          vative work and an enterprising spirit that led      Joan Collins in the 1970s, accompanied by Rita
     water from the Scottish Highlands, and yeast.        18-Year-Old was named ‘Scotch Whisky of the         the Cinzano family, at the request of the Royal      Pavone’s jingle (‘Cin cin Cinzoda/una voglia da
     The distillate is produced from tall, slender        Year’ by Jim Murray’s Whisky Bible 2019.            Court of Savoy, to expand the family business        morir …’, Cheers cheers Cinzoda/to die for…’)
     stills and special purifiers that master distiller                                                       with the creation of the first sparkling wine in     were some of the most successful. Since then,
     and trail-blazer James ‘The Major’ Grant intro-                                                          the mid-1800s. With an innovative advertising        the term ‘cin cin’ has entered the Italian vocab-
     duced over a century ago and which are still                                                             strategy that attracted major artists, including     ulary as a toast.
     used today. This innovative idea is what makes                                                           Adolf Hohenstein, Leonetto Cappiello, Nico           Acquired by Campari Group in 1999, Cinzano
     GlenGrant stand out from any other whisky.                                                               Edel and Raymond Savignac, to work with the          now has numerous brands distributed world-
     James Grant was only 25 when he decided to                                                               Company, and its ability to adopt new commu-         wide, with core markets including Germany, Ita-
     launch a whisky that was not a blend but a                                                               nication techniques, ranging from posters and        ly, Argentina and Russia. A line of products that
     single malt. The distinctive GlenGrant colour                                                            postcards to free tastings at the Turin Expo         are enjoyed all over the world, encompassing
     develops over time during the maturing pro-                                                              1884, and more latterly, radio and TV adver-         the Cinzano Bianco and Rosso vermouths-one
     cess in oak barrels, creating a clear, fresh and                                                         tising, Cinzano became a well-known name             of the ingredients most often used to enhance
     natural whisky with the unique taste of a single                                                         in Italy and abroad for both vermouths and           famous cocktails such as the Negroni and the
     malt. The Glen Grant distillery in Rothes (Scot-                                                         sparkling wines. In 1911, the Cinzano family was     Americano-and Extra Dry; as well as sparkling
     land) is also famous for its beautiful gardens                                                           the first to use an aeroplane for advertising.       wines, an extensive line of high-quality prod-
     created by James Grant in 1886. After major                                                              The aeroplane flew above Milan, showering            ucts that suit various tastes and occasions.

     FORTY CREEK                                                                                              RICCADONNA
     Forty Creek is a Canadian premium whisky with        types of grain are matured separately for six       Synonymous with Italian style, Riccadonna is a       ically 1920s brand. The Riccadonna label bears
     a delicate and sophisticated taste. It is created    to ten years and then combined. Subsequently,       collection of sparkling wines born in the era        the slogan ‘Italian style since 1921’, underlining
     from a blend of rye, barley and wheat, each of       Forty Creek goes through a further maturing         of glamour and elegance in 1920s Italy. Ricca-       the elegant nature of the brand and its nearly
     which is distilled separately and left to mature     phase of six months in sherry barrels, which        donna’s story starts in Piedmont, Italy, in 1921,    100 years of success. The ‘Collezione Moda’
     in American white oak barrels, selected indi-        makes the whisky soft and velvety on the palate.    when founders Clara and Ottavio Riccadonna           includes five wines (Asti D.O.C.G., Prosecco
     vidually to bring out the best qualities of each.    Forty Creek has won numerous awards in the          started to produce high-quality vermouth and         D.O.C., Moscato Rosé, Chardonnay Brut and
     This process allows each flavour to develop:         last few years, with the latest achieved last De-   sparkling wines. The brand was aquired by            Ruby) and reflects the passing seasons with
     the fruity and spicy notes of rye, the full nut-     cember, when the Forty Creek Unity special          Campari Group in 2004.                               products that encompass the dry to the sweet
     ty after-taste of barley and the defining taste      edition was named the no. 12 whisky in the Top      Riccadonna’s new ‘Collezione Moda’ (‘Fashion         and elegant, designed to fit any social occa-
     of wheat. The liquids obtained from the three        20 Whisky Advocate’s Buying Guide of 2018.          Collection’), distributed from the end of 2018,      sion.
                                                                                                              recalls the geometric patterns of Art Deco,          Riccadonna is distributed worldwide, with core
                                                                                                              celebrating the style and vivacity of the typ-       markets in France, Australia and South America.

                                                                                                              Mondoro is an Italian sparkling wine that is         taste and their distinctive floral and fruity
                                                                                                              distinctive because of its luminous perlage          notes. Today the brand is particularly rooted
                                                                                                              and iconic emerald green glass bottle with           in Russian culture.
                                                                                                              swirling patterns. All four Mondoro varieties –
                                                                                                              Asti D.O.C.G., Prosecco D.O.C., Brut and Rosé
                                                                                                              – reflect the highest standards of production,
                                                                                                              and stand out because of their fresh, elegant

34                                                                                                                                                                                                             35

         ITALIAN ICONS                                           ESPOLÓN                                          APPLETON ESTATE                                      GLENGRANT                                        GRAND MARNIER                                                    AVERNA
        BRUNO MALAVASI                                       CIRILO OROPEZA                                         JOY SPENCE                                       DENNIS MALCOLM                                   PATRICK RAGUENAUD                                                 PIERO FICI

Herbalist and Master Blender of the Italian        Cirilo Oropeza is the Master Distiller of Espolón      For over 25 years, Joy Spence has combined          Born in the vicinity of the GlenGrant distillery   Patrick Raguenaud, Master Blender of Grand              Master Blender of Averna, Piero Fici oversees
iconic brands, Bruno Malavasi not only plays       tequila. Along with his ten years’ experience and      the art and science of mixing to create a           in 1946, Dennis started working there, as an       Marnier, was born in 1954 in Jarnac, a munic-           each phase of the infusion process to ensure
a key role in preserving the traditions and au-    a talent for the art of distillation, Cirilo immedi-   top-quality Jamaican rum: Appleton Estate.          apprentice, over 50 years ago, following in the    ipality in the La Charente departement in the           that the end product is of the highest standard.
thenticity of our products, but is also the de-    ately showed a genuine passion for ‘his’ tequila.      After graduating from the University of the         footsteps of his father and his grandfather be-    Cognac region in south-west France.                     The great care and attention given to the exe-
signer and creator of original new aperitifs and   With rigorous attention to detail, and well-known      West Indies, Joy taught chemistry for a few         fore him. In 2013, on his 50th anniversary at      His family before him, going back several gen-          cution of each phase ensures that the full-bod-
liquors. Bruno Malavasi is also an innovator       for his unconventional methods, Cirilo has real-       years before moving to the UK to study for a        the Glen Grant distillery, a limited edition of    erations, had built a special and long-lasting          ied taste of the amaro, with that special note of
who, together with a team of skilful analysts,     ised his life’s dream. His objective was simple: to    master’s in analytical chemistry at the Univer-     single malt Scotch whisky matured for 50 years     relationship with their territory of origin and         lemon, is obtained.
botanists and blenders, creates new flavours       create a tequila so good that he could proudly         sity of Loughborough, where she graduated           was created in honour of his commitment.           with the world of cognac.                               The infusion of Averna has been carried out
and discovers new ways in which herbs can          share it with the rest of the world. In 1995, Cirilo   with honours.                                       In 2015, Dennis received a special award at        Thanks to his outstanding experience, Pat-              in the historic facility in Caltanissetta for 150
interact with each other, in response to new       met a local entrepreneur who shared his am-            Joy joined J.Wray&Nephew as Chief Chemist           the International Wine and Spirits Competition     rick took on a very important role, becoming            years and continues today. The recipe remains
trends and demands from consumers and bar-         bition. This new partnership led to the creation       in 1981. She was awarded the title of ‘Master       for his exceptional contribution to the Scotch     Master Blender of Grand Marnier in 2004,                a secret closely guarded by its holder. For
tenders.                                           of Destiladora San Nicolas in 1998, followed by        Blender’ in 1997 and was the first woman in         whisky industry. A year later, Dennis was also     responsible for overseeing the sourcing of in-          many years, the facility, which was built in the
A chemistry and pharmaceutical technology          Espolón Tequila.                                       the spirits industry to receive this recognition.   awarded the honour of Office of the Order of       gredients, the ageing and blending process of           mid-nineteenth century, has opened its doors
graduate, specialising in clinical chemistry and   Immediately hailed as a superior tequila made          In 2005, Joy was awarded the Order of Dis-          the British Empire (OBE) for services to the lo-   French cognac and the control of production             to visitors to show them the passion and crafts-
biochemistry, Bruno Malavasi started work-         in the proud Mexican tradition but with modern         tinction by the Jamaican government, an hon-        cal community in Speyside (Rothes, Scotland).      of the bitter-orange essence, the element that          manship that have set the Averna amaro apart
ing for Campari Group in 1995 as a technical       techniques, Espolón is testimony to Cirilo’s pio-      our conferred on citizens who have provided                                                            helps make Grand Marnier one of the world’s             from the very beginning.
inspector at the Group’s plants. In 2007, after    neering spirit, his commitment to his art and his      important services to the country. The role of                                                         unique brands.
being awarded an Executive Master’s of Busi-       promise never to give up on his dreams.                Commander (CD) was bestowed on her in
ness Administration (EMBA) from Bologna Uni-                                                              recognition for her contribution to the pro-
versity, he was appointed product innovation                                                              motion of Jamaican rums around the world. In                                                           Nicknamed the ‘Buddha of Bourbon’ and ‘Mas-             developing the business, and thus becoming
manager in 2009, his first step in developing                                                             November 2018, Joy also received the National                                                          ter Distiller of the Master Distillers’ by his sector   a gold standard for the entire bourbon indus-
new products. Appointed Global Formula&Pro-                                                               Medal for Science and Technology and Inno-                                                             peers, James C. ‘Jimmy’ Russell has been distill-       try. Jimmy has passed on his knowledge to his
cess Director in 2011, thanks to his extensive                                                            vation from the Jamaican prime minister for                                                            ing Wild Turkey in Lawrenceburg (Kentucky) for          youngest son, Eddie Russell, the third-genera-
botanical knowledge, Bruno formally became                                                                her significant technological innovations and                                                          60 years and is today the Master Distiller with         tion Russell to work in the Wild Turkey Distillery.
Herbalist&Master Blender. Since then, he has                                                              scientific contributions to the food, farming,                                                         the longest career in the world. He grew up five        With 35 years’ experience, Eddie, together with
been responsible for managing the aromatic                                                                manufacturing and tourism sectors in Jamaica.                                                          miles from the distillery and learned the tradi-        Jimmy, is involved in the entire process from the
herbs area, where he oversees the selection of                                                            ‘We have been able at Wray and Nephew to                                                               tions and techniques of hand-crafted bourbon            distillation to the maturing of Wild Turkey Bour-
suppliers, and the planning, purchase and for-                                                            use cutting technology along with exciting in-                                                         from his father and grandfather, becoming a             bon, ensuring that every bottle conforms to
mulation of herb-based blends.                                                                            novations to create some of the finest brands                                                          Master Distiller in 1960.                               the highest quality standards. Following in his
                                                                                                          in the world. I will continue to spread the joy                                                        His successes have been celebrated by Kentucky          father’s footsteps, Eddie was inducted into the
                                                                                                          of rum locally and, by extension, promote                                                              senator Mitch McConnell and are recorded in             illustrious Kentucky Bourbon Hall of Fame in
                                                                                                          brand Jamaica’ Joy Spence.                                                                             the United States Congressional Record. He is           2010. In 2014, to celebrate his father’s 60th an-
                                                                                                                                                                                                                 also a lifetime honorary member of the Exec-            niversary, Eddie created Wild Turkey Diamond
                                                                                                                                                                                                                 utive Council of the Kentucky Distillers’ Associ-       Anniversary, an exceptional blend of 13-16 year-
                                                                                                                                                                      WILD TURKEY
                                                                                                                                                                                                                 ation, an honour bestowed on only five other            old whiskeys in a limited edition. We also owe
                                                                                                                                                                  JIMMY & EDDIE RUSSEL                           people in the Association’s 134-year history. In        the introduction of Wild Turkey 81 to Eddie. This
                                                                                                                                                                                                                 2018, Jimmy Russell celebrated his 64th year at         premium bourbon is perfect for mixing in any
                                                                                                                                                                                                                 the Wild Turkey Distillery, continuing to devote        cocktail without losing the typical characteristics
                                                                                                                                                                                                                 himself, body and soul and day after day, to            of the original Wild Turkey Kentucky Bourbon.

36                                                                                                                                                                                                                                                                                                                    37

Davide Campari-Milano S.p.A. (the ‘Company’)                                                The Company’s corporate governance system is                                  Board committees
is listed on the Italian stock market (the FTSE                                             based on the principles and application criteria
MIB index).                                                                                 of the Code of Conduct for Listed Companies,                                  The Board of Directors is divided into two committees: the Control and Risks Committee and
                                                                                            adopted in November 2006, and observes the                                    the Remuneration and Appointment Committee, which carry out an advisory role in relation
The Company has a traditional administration                                                provisions and the applicable regulations of the                              to internal control and the identification of the main business risks, and a proactive role in
and control model, consisting of a management                                               Company’s articles of association and the Code                                the appointment and remuneration of executive directors.
body (the Board of Directors) and a control                                                 of Ethics.
body (the Board of Statutory Auditors).

     Board of Directors                                                                                                                                                   Board of Statutory Auditors

     Appointed by the Ordinary Shareholders’ Meeting of 29 April 2016 and in office for the                                                                               The current Board of Statutory Auditors, which comprises three Standing Auditors and three
     three-year period 2016-2018, the Board of Directors is the central body of the corporate                                                                             Alternate Auditors, is in office for the three-year period 2016-2018.
     governance system and is granted broad strategic powers by the Company. It has 11 mem-
     bers, including four women.

     MEMBERS OF THE BOARD OF DIRECTORS AS AT 31 DECEMBER 2018                                                                                                             MEMBERS OF THE BOARD OF STATUTORY AUDITORS AS AT 31 DECEMBER 2018

     CHAIRMAN                                                                                                                   Luca Garavoglia                           CHAIRMAN                                                                 Pellegrino Libroia
     MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER                                                                              Bob Kunze-Concewitz                       STANDING AUDITOR                                                         Enrico Maria Colombo
     MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER                                                                              Paolo Marchesini                          STANDING AUDITOR                                                         Chiara Lazzarini
     DIRECTOR    (1)
                                                                                                                                Eugenio Barcellona                        ALTERNATE AUDITOR                                                        Piera Tula
     DIRECTOR                                                                                                                   Stefano Saccardi                          ALTERNATE AUDITOR                                                        Giovanni Bandera
     INDEPENDENT DIRECTOR                                                                                                       Giovanni Cavallini                        ALTERNATE AUDITOR                                                        Graziano Gallo
                                                                                                                                Camilla Cionini-Visani
     INDEPENDENT DIRECTOR                                                                                                       Karen Guerra
     INDEPENDENT DIRECTOR (1)                                                                                                   Thomas Ingelfinger
                                                                                                                                                                          The Board of Statutory Auditors is responsible for the obligations established by the applica-
     INDEPENDENT DIRECTOR                                                                                                       Catherine Gérardin Vautrin
                                                                                                                                                                          ble law, including ensuring that the law and the articles of association are complied with and
     INDEPENDENT DIRECTORE                                                                                                      AnnaLisa Elia Loustau
                                                                                                                                                                          that the principles of proper administration are applied, and in particular, that the organisa-
                                                                                                                                                                          tional structure, internal control and risk management system and organisational, administra-
                                                                                                                                                                          tive and accounting procedures are adequate. It also ensures that the corporate governance
                                                                                                                                                                          rules set forth in the Code of Conduct are applied correctly. In carrying out its activities, the
                                                                                                                                                                          Board of Statutory Auditors coordinates and collaborates with the internal audit function and
                                                                                                                                                                          the legal function, and meets periodically with the Control and Risks Committee.

           Member of the Control and Risks Committee and the Remuneration and Appointment Committee

38                                                                                                                                                                                                                                                                            39
                                      For more information, please see the ‘Report on Corporate Governance and Ownership Structure’, which is available on this website
You can also read