LVMH’s Moët Hennessy to Partner With Campari in New 50/50 JV

Cleary Gottlieb is advising LVMH Moët Hennessy Louis Vuitton (LVMH) on the antitrust aspects of Moët Hennessy’s (LVMH’s wines and spirits division) recent partnership with Campari Group (Campari).

The transaction involves the creation of a 50/50 joint venture to invest in wines and spirits e-commerce companies and build a European e-commerce pure player in this growing category. Following the transaction LVMH will own (through Moët Hennessy) a 50% interest in the JV, to which Campari will be contributing its stake in Tannico, an Italian online pure player that recently acquired French wines and spirits e-commerce platform Ventealapropriete.com.

LVMH is the holding company of the LVMH group of companies, an international luxury group active in the manufacture and sale of luxury goods through its portfolio of 75 brands worldwide. LVMH’s main activities fall into its five core business groups: wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, and selective retailing.

Campari is an international group headquartered in Milan, Italy, founded in 1860, and active in the production and distribution of wines and spirits. Campari’s portfolio includes over 50 brands worldwide, including Aperol, Campari, SKYY, Grand Marnier, Wild Turkey, and Appleton Estate.

Tannico is an Italian company active in the online retail of wines and spirits. Founded in 2012, it offers a catalogue of over 15,000 labels from 2,500 wineries, and the world’s largest selection of Italian wines. Tannico’s e-commerce platform offers a variety of services ranging from the assistance of a personal sommelier to dedicated content for connoisseurs and enthusiasts, as well as wine courses, video tutorials, and a mobile app.

Ventealapropriete.com is a French online wines and spirits retailer offering high-quality products at competitive prices, and a wide selection of both established brands and rising newcomers.