The Disaronno liqueur owner, which already held a 25% stake in the gin, announced today the purchase of outright control. The transaction is joined by a “global distribution agreement” and represents the addition of a gin to the privately-owned company’s portfolio.
The move is also a continuation of Saronno’s M&A strategy that saw Baltimore’s Sagamore Spirit come on board through a majority holding buy five months ago.
“The decision to acquire Engine is an integral part of our corporate strategy, aimed at offering excellent products globally,” said Saronno CEO Aldino Marzorati. “Engine appeals to an international audience, positioning itself as a distinctive product in the gin landscape, and we are excited to bring it to the 160 countries in which we currently operate.”
In a LinkedIn post following the confirmation, Dalla Mora wrote: ” I am convinced that our friends at Illva are the best choice to continue the global consolidation of this outstanding work … . I am also proud that, among all the interest the brand received, it is in Italian hands that Engine continues its journey.”
Founded by Dalla Mora in 2021, Engine’s motor-oil can packaging is the brand’s main USP. Speaking exclusively to Global Drinks Intel in September, however, Dalla Mora, who worked for Saronno between 2009 and 2017, emphasised the brand’s use of organic-certified ingredients from across Italy.
At the time, Engine, which retails for around EUR39 [then-US$43] in its domestic market, was available in around 14 export markets, with three more lined up for later in 2023.
