Campari sells ‘non-core businesses’ for €19m
Gruppo Campari is selling its liqueur brand Limoncetta di Sorrento and the pharmaceutical sector of its J Wray & Nephew business for a combined amount of almost €19 million.
Gruppo Campari has sold two “non-core” assets for €19mThe sales are part of the Italian group’s strategy to focus on its “core high-margin spirits business via streamlining of its non-core businesses”.
Gruppo Campari has agreed to sell its Limoncetta di Sorrento trademark – a lemon based liqueur brand – plus the total share capital of Alimenta S.r.l., owner of the plant for the production of concrets for €7m.
It is expected the deal will be finalised by 30 January 2015.
Furthermore, the company is also selling the Federated Pharmaceutical division of J Wray & nephew Limited in Jamaica to Kirk Distributors Limited for €11.8m (US$14.4m).
The deal should be finalised by 31 March 2015.
The effect of the sales is forecast to be below 1% of Gruppo Campari’s sales on a full year basis.
In April this year, Gruppo Campari acquired Italian bitters producer Fratelli Averna for €103m.
Last week, Campari America confirmed its managing director Roy Danis had left the company.
