Italian tax police have initiated the seizure of assets valued at €1.29 billion ($1.5 billion) from Luxembourg-based holding company Lagfin, the controlling shareholder of premium spirits giant Campari Group. The move comes as part of an ongoing investigation into alleged tax evasion. A judge in Monza, located northeast of Milan, authorized the precautionary seizure, which stems from a tax audit following Lagfin’s merger with its Italian subsidiary. Lagfin, established in 1995 and closely tied to the family of Campari Group Chairman Luca Garavoglia, holds over 80% of Campari’s voting rights and more than 50% of its shares. In a statement, Lagfin emphasized that the investigation is unrelated to Campari Group and asserted its commitment to compliance with all applicable laws, including Italian tax regulations. The company vowed to vigorously defend itself against the allegations. Campari Group, renowned for its iconic red aperitif and ownership of global brands like Aperol, Grand Marnier, and several tequilas and bourbons, has yet to comment on the matter. Lagfin assured that the seizure would not impact its controlling stake in Campari.
Italian police seize $1.5B in assets from Campari’s controlling shareholder amid tax fraud probe
