Campari initiates restructuring to accelerate growth

Italian spirits company Campari Group has initiated a restructuring due to facing headwinds after acquiring Cognac Courvoisier, Reuters reported on February 20. The company, known for their iconic Aperol brand, bought Courvoisier in 2024, paying well over market value.

The move was intended to strengthen its position in the premium Cognac sector. However, demand for Cognac has declined in the US, while China’s trade restrictions and the potential return of Trump-era tariffs have created further uncertainty.

Now, under new CEO Simon Hunt, Campari is taking action. On Thursday, Hunt confirmed that the company must make “tough decisions, such as organisational restructuring” to restore financial health. Italian daily MF reported that the group plans to cut around 500 jobs, roughly 10 percent of its workforce.

In a statement to Reuters, Campari said it needed “a more efficient resource allocation, as changes in top-line performance and existing infrastructure investments had impacted profitability.” The company added, “We are gradually implementing a comprehensive set of company initiatives to accelerate growth and profitability via focus, simplification and cost containment.”