Campari is thought to have more than Eu1.5bn to spend on further acquisitions if it can find the right brands.
Analysts believe that rum, digestifs and higher-end drinks like Cognac and champagnes would be most attractive.
A 14.8% rise in sales to Eu418m (£282m) in the first half was driven by contributions from recent acquisitions such as Glen Grant, the Teruzzi & Puthod wine brand and some distribution licences, including Jack Daniels.
The Business 17/09/06 page 7