According to sources with direct knowledge of the matter, Milan prosecutors have initiated an investigation into the holding company that has control over Italian drinks group Campari, as reported by Reuters on Wednesday, June 26.
Tax Evasion Claims Against Campari
Sources claimed the prosecutors initiated an investigation following an examination by tax police, which revealed approximately 1 billion euros ($1.07 billion) in unpaid taxes from 2018-2020. The taxes are owed by the Luxembourg-based holding company, Lagfin.
Authorities discovered a significant amount of undeclared revenues, totaling 5 billion euros, that the company had failed to pay the "exit tax". This tax is imposed on companies that relocate their fiscal headquarters overseas.
"The company has always fulfilled its tax obligations with the utmost scruple in all the jurisdictions where it operates and considers any potential objection devoid of any basis," stated Lagfin. It also mentioned that no formal notice of assessment has been received so far.
The news comes after Campari's French division announces distribution of Baie des Trésors' rum collection in mainland France and Monaco starting from 1 July.
It is part of Campari's French distribution portfolio, along with Martinique rums Trois Rivières and La Mauny, and Jamaican rum Appleton Estate.
Campari's Expansion
According to Yahoo, Campari is targeting specialist wine merchants, bars, and restaurants to secure listings for Baie des Trésors. The business was established in 2021 by Société Terroirs du Galion, a subsidiary of Exploitation Agricole du Galion, a sugar-cane processor.
Géraud de la Noue, president of Campari Group's France segment, expressed his pride and satisfaction in adding Baie des Trésors to their portfolio.
Starting from 1 July, Campari's French branch has secured exclusive distribution rights for Bunnahabhain, Deanston, Tobermory, Ledaig, and Black Bottle.
In the previous year, the Italian group expanded its distribution roster in France and Monaco by including two whiskies and a rum from Proximo Spirits, a US peer.
In a significant agreement, Campari has been granted exclusive distribution rights for renowned Irish whiskeys Bushmills and The Sexton, along with the popular spiced-rum brand The Kraken.
In September, Campari made an announcement about a distribution agreement for Château Miraval's rosé in France and the US. The agreement caused a stir, though, as Miraval co-owner Stoli Group, who acquired a 50% stake in the business from Angelina Jolie in 2021, stated that they were not informed about the development.
The company terminated its distribution partnership in France with Château Minuty, a rosé producer majority-owned by LVMH, that had been in effect since 1967.
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