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Aperitif maker Davide Campari-Milano believes Aperol Spritz, a cocktail that mixes the crimson bitters with sparkling wine and soda, can replace beer as the go-to drink for some concertgoers and sports fans.

Shares jumped after the aperitifs business—which makes up around half of group sales— booked 4% growth.

The group behind Aperol and Campari bitters recorded 2.5% organic sales growth in the quarter through June, with its core aperitifs business booking 4% growth.

Campari is stepping up efforts to defend Aperol, the driving force behind its growth in recent years, as copycat spritzes and rival aperitifs vie for a slice of the booming market.

Organic sales growth was 2.9% on year, which analysts at Jefferies said was below consensus of 5.1%.