Italian drinks group Campari has agreed to sell its Lemonsoda business to Danish beverage company Royal Unibrew.
The €80 million deal includes the alcohol-free fruit-flavoured carbonated variants Lemonsoda, Oransoda, Pelmosoda and Mojito Soda, which are grouped under the Freedea brand name, as well as the Crodo brands, with the exception of Crodino.
In 2016, these brands achieved total net sales of €32.8 million, accounting for 2% of Campari Group’s net sales. Italy was the main market, responsible for 84.3% of sales, and Lemonsoda is the Italian market leader within citrus-based soft drinks products.
Included in the transaction is the manufacturing and bottling facility in Crodo, Northern Italy, as well as the attached water springs and the company's inventories.
As part of the deal, Royal Unibrew will continue to manufacture certain Campari Group-owned products, which are currently produced at the Crodo bottling facility.
This transaction, due to be completed by the end of 2017, is part of Campari Group’s efforts to streamline its brand portfolio and focus on its core spirits business. Since the beginning of 2017 the company has divested €310 million worth of non-strategic assets.
In July, the company signed an agreement for the sale of the Grand Marnier headquarters building in Paris for €35.3 million, and also sold its Carolans Irish Cream and Irish Mist Whiskey brands, along with the Château de Sancerre wine business.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.