Italian mineral water, and soft drinks industry leader, Sanpellegrino, is selling the Recoaro mineral water brand to Dutch multinational Refresco.
Sanpellegrino has informed local trade unions, of its intention to divest the Recoaro plant, and brand, to the leading European bottler of soft drinks and fruit juices.
The agreement also foresees a partnership between the two companies for, Acqua Brillante and Gingerino, which will remain the property of Sanpellegrino.
Within a medium-term contract, they will continue to be produced at the site, along with the other Sanpellegrino branded drinks currently manufactured in Recoaro.
The sale of Recoaro is part of Sanpellegrino’s strategy, to optimize the brand portfolio, in order to consolidate competitiveness in Italy and abroad.
At the same time, Sanpellegrino has underlined it will continue investing in Italy, earmarking €150 million over a three-year period, mostly to boost production at the San Giorgio in Bosco plant by 400 million bottles.
The Italian company owns the globally renowned brands Sanpellegrino (sparkling water) and Acqua Panna (still water) as well as other primary brands, such as Levissima and Nestlé Vera.
Part of Nestlé Group, Sanpellegrino ended 2015 with a turnover of €991 million and profits up 50%, year-on-year, to €107 million.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
