Campari (A): A cocktail of organic and external growth

When Luca Garavoglia became chairman of the Campari Group at the age of 23 following the death of his father, he immediately adopted a strategy of fast growth through acquisitions. Over the next 24 years, Campari acquired 26 companies, spending over €3 billion and establishing its own distribution network in 20 countries. This two-part case series describes how Campari transformed from a single-brand local Italian company to an important player in the global spirits industry with over 50 premium brands distributed in over 190 countries. CASE A follows Campari on its journey from 1994 to 2018, providing an overview of its history, business strategy, market place, trends and competitive landscape. learning objective: The case describes the successful transformation and survival of Campari as a small player among “giants” in a niche sector of the spirits industry. It can be used for class discussion on different business and social topics, such as: 1)Business strategy (SWOT, Porter’s 5-forces); 2) Globalization (from local to global); 3) Growth through M&As (value creation, synergies); 4) Family-owned businesses (conflict of interest, strategic fit); 5) Marketing strategy (market trends, ethical role of marketeers).