LVMH’s Moet Hennessy Forms Wine and Spirits JV With Campari

Moet Hennessy and Campari Group are forming a joint venture to invest in fast-growing wine and spirits online companies as the pandemic fuels the shift to e-commerce.

Under the terms of the agreement, Campari will sell its stake in Tannico, an online business, into the joint venture with LVMH’s wine and spirits division for just over 25.6 million euros ($30.4 million) with the aim of building a “European e-commerce pure player in this growing category.” Tannico also owns a majority stake in Ventealapropriete.com, an e-commerce platform for fine wines and spirits in France.