Italy’s Gruppo Campari, one of the world’s leading spirits companies, has taken a significant step to strengthen its position in South Korea’s dynamic alcoholic beverage market. By fully acquiring Trans Beverages Co., a local importer, Campari signals its confidence in South Korea’s burgeoning spirits market—a sector increasingly drawing global attention alongside its thriving wine scene.
A Thriving Market with Strong Growth
South Korea’s spirits market has experienced substantial growth in recent years, supported by rising imports of whiskey, brandy, and liqueurs. According to data from the Korea Customs Service:
- Whiskey imports surged from US$132.46 million in 2020 to $259.67 million in 2023, achieving a compound annual growth rate (CAGR) of 17.37%.
- Brandy imports climbed from US$6.26 million in 2020 to $10.99 million in 2023, reflecting a CAGR of 15.44%.
- Liqueur imports rose from US$34.20 million in 2020 to $60.38 million in 2023, with a CAGR of 14.67%.
Although 2024 has shown early signs of market cooling—with whiskey and liqueurs posting slight year-on-year declines of 4.93% to US$225.5 million and 8.46% to US$26.5 million, respectively—the overall momentum remains strong. Notably, liqueur imports between January and November 2024 already surpassed their total 2022 levels of US$26.2 million. Brandy imports also maintained double-digit growth, rising 14.96% during the same period to US$10.4 million.
These trends reflect a sustained appetite for premium spirits in South Korea, making it a key target for Campari, especially given its robust portfolio of liqueurs like Campari and Cynar, as well as premium spirits such as SKYY Vodka and Wild Turkey Whiskey.
Trans Beverages: A High-Growth Player
Founded in 2018, Trans Beverages has emerged as a fast-growing importer of premium spirits and wines. Initially a joint venture with Gruppo Campari, the company became a wholly owned subsidiary in December 2024, when Campari acquired its remaining shares and renamed it Campari Korea Co.
The numbers highlight Trans Beverages’ exceptional performance. Revenue soared from approximately US$345,000 in 2020 to US$29.58 million in 2023—a staggering CAGR of 203.66%. The company manages around 20 brands, predominantly from Campari’s portfolio, including SKYY Vodka, Wild Turkey Whiskey, Forty Creek Whiskey, and Champagne Lallier. It also distributes non-Campari brands like Beluga Vodka, Old Smuggler Whiskey, and China’s Guojiao 1573 baijiu.
Despite its rapid expansion, Trans Beverages remains relatively compact, employing about 47 people as of 2023.
Strategic Vision
The acquisition underscores Campari’s long-term commitment to South Korea. Matthijs Kramer, Managing Director of Campari’s Asia-Pacific region, highlighted the strategic importance of this move:“We are optimistic about Korea’s future. This acquisition reflects our belief in the long-term potential of the market for our brands. We will continue to respect Korea’s rich culture while meeting the refined tastes of Korean consumers.”
HoJoon Ryu, Managing Director of Campari Korea, also expressed confidence in the company’s future. “With our strong team and product portfolio, I am fully confident in creating value and realizing Campari Group’s long-term ambitions in Korea.”
