Campari : Lemonsoda sold to a Danish group for 80 million
Rome - The Campari Group is selling its fizzy drinks, including the famous Oransoda and Lemonsoda, to the Danish Royal Unibrew group for EUR 80 million. The transaction is expected to be closed by the end of 2017. Campari announced that it sold the Freeda brand, which includes its non-alcoholic fruit-based beverages, i.e. Lemonsoda, Oransoda, Pelmosoda and Mojito Soda. The deal extends to the Crodo brands, excluding Crodino. The sale encompasses the brands, the production and bottling plant located in Crodo, Northern Italy, the water source and the warehouse. The Campari Group and Royal Unibrew also signed a multi-year production agreement, under which Royal Unibrew will continue to produce some of the Campari Group's own products currently bottled in the Crodo plant. The sold business had entered the portfolio of the Campari Group in 1995, within the first Campari acquisition. The range was part of a wider brand portfolio that included the non-alcoholic aperitif Crodino, a brand that is excluded from the announced transaction as it remains a strategic brand for the Campari Group. In the course of time, the Campari Group has successfully introduced various line extensions, further strengthening the business of Lemonsoda, undisputed leader of the lemonade market in Italy. The transaction shows the Campari Group's commitment to rationalize its portfolio and increasingly focus on its priority spirit brands. Since the beginning of 2017, the Campari Group has sold non-strategic assets totaling EUR 310 million. Overall, the sold brands account for 2% of the total Campari Group sales in 2016. 84.3% of the Group sales are in Italy.Royal Unibrew is a Danish company limited by shares, quoted in the Nasdaq Nordic Stock Exchange, and a top player in the market for beer, soft drinks, mineral water, cider drinks, energy drinks and malt-based non-alcoholic drinks. Its leadership is especially strong in Northern Europe, Italy, and the international markets for malt-based beverages.