The recently-departed head of Campari Group, Matteo Fantacchiotti, has agreed to become the chair of UK-based Cygnet Gin, having purchased a stake in the company.
Co-founded by Welsh singer Katharine Jenkins (above), Cygnet, which debuted its namesake brand last year, confirmed the move earlier today. While confirming that Fantacchiotti (below) has bought into the business, a spokesperson declined to provide details of the size of the holding or its price when contacted by Global Drinks Intel.
The news comes almost three months after Fantacchiotti stepped down at Campari Group, citing personal reasons, having been promoted to the CEO position in April this year. His time with the Aperol brand owner started in 2020, when he transitioned from Carlsberg to become MD for Asia. He then moved up to deputy CEO in September last year when then-CEO Bob Kunze-Concewitz announced his intention to step aside after 16 years.
“The recent gin trend, and subsequent diversification of the category that saw a broad array of colour and flavour innovation, hasn’t always stayed true to the category or enhanced the consumer experience,” Fantacchiotti said. “With this exceptional brand it’s time to shift the paradigm and offer consumers the quality and experiences they … deserve through elevating the category with luxury gin.”
Cygnet expanded its portfolio with a gin-and-tonic RTD in March. The flagship Welsh Dry Gin expression retails in the UK for GBP35.99 (US$46).
