Gruppo Campari sells ‘non-core’ spirits business

Italy’s Gruppo Campari has sold its “non-core” spirits business Casoni Fabbricazione Liquori to a local consortium of entrepreneurs for €5.3 million.

Gruppo Campari has sold their Casoni Fabbricazione Liquori business to a pool of entrepreneurs

Wholly-owned by Fratelli Averna, which Campari acquired in June 2014, Casoni Fabbricazione Liquori specialises in the production of private label alcoholic beverages and co-packing activities.

The business mainly consists of production plants located in Modena, Italy, and Pribenìk, Slovak Republic.

Following Campari’s takeover of Fratelli, the business underwent extensive reorganisation, with bottling and distribution functions transferred to its new parent company.

Campari also sold the Limoncetta di Sorrento brand, owned by Fratelli, in January 2015 to “optimise” its portfolio.

“By the disposal of Casoni Fabbricazione Liquori S.p.A., the group continues to implement successfully its divesture program involving non-core and low margin businesses in line with its announced strategy,” a statement from Gruppo Campari reads.

“This transaction underlines Gruppo Campari’s strategy of strengthening its focus on its core high-margin spirits business by streamlining its non-core businesses.”

Campari expects the sale to be completed by the end of March 2016.

Reporting its year-to-date sales in November 2015, the firm attributed solid single-digit growth to its ‘Global Priority Brands’, including Campari, Aperol, Skyy Vodka and Wild Turkey Bourbon.