MILAN (AP) — Italian tax police are seizing assets worth 1.29 billion euros ($1.5 billion) from a Luxembourg-based holding company’s shares in spirits maker Campari Group as part of a fraud investigation.
The Luxembourg-based Lagfin is the controlling shareholder of Campari, which was founded in 1860 and is one of the largest players in the premium spirits industry. A judge in Monza, northeast of Milan, approved the seizure order, which authorities described as precautionary amid allegations of tax evasion.
The investigation began with a tax audit following a merger in which Lagfin absorbed its Italian subsidiary. Lagfin stated on Friday that the investigation “is connected to a tax dispute that started approximately two years ago and that has never involved Campari Group in any manner whatsoever.”
Lagfin emphasized that it has always “acted in the most scrupulous respect of any applicable laws and regulations, including any Italian tax laws,” and vowed that it “will defend itself vigorously.”
Campari Group did not immediately respond to requests for comment.
Since Lagfin holds more than 80% of Campari’s voting rights, the company said the seizure is “absolutely unable” to affect its position as Campari’s controlling shareholder.
With ties to the family of Campari Group Chairman Luca Garavoglia, Lagfin was established in 1995 primarily to serve as Campari’s controlling stakeholder, owning more than 50% of its shares.
Known for its signature red aperitif, Campari also owns popular brands such as Aperol, Grand Marnier, tequilas, and several American bourbons.
https://wtop.com/world/2025/11/italian-police-seize-1-5b-in-assets-from-camparis-controlling-shareholder-amid-tax-fraud-probe/
