Global beverage corporation Campari Group announced on the 18th that it has acquired all remaining equity of the liquor import and sales marketing specialist Transbeverage and has changed the name of Transbeverage to Campari Korea Co., Limited, a wholly-owned subsidiary of Campari Group.
Campari Group established the Korean joint venture Transbeverage in March 2018. Since then, the company has steadily grown based on the U.S. bourbon whiskey brand Wild Turkey and the Scottish single malt whiskey brand The Glen Grant in the highly competitive Korean liquor market.
Matthijs Kramer, head of the Asia-Pacific branch of Campari Group, said, "I have an optimistic outlook on the Korean market," adding, "The acquisition of the remaining equity demonstrates our confidence in the long-term growth potential of the Korean market."
He added, "We will continue to respect Korea's rich culture and do our best to satisfy the refined tastes of Korean consumers."
Ryu Ho-jun, head of Campari Korea, stated, "Campari Korea will create value in the domestic market with a strong team and an excellent product portfolio, realizing our long-term goals."