Campari agrees 80 million euros sale of its Lemonsoda business | Progresiv
Gruppo Campari has agreed to sell its Lemonsoda business to Danish beverage company Unibrew for 80 million euros. Campari said the decision to sell is a move to streamline its brand portfolio and focus on its core spirits business. 
The Limonsoda business consists of the fruit-flavoured sodas Lemonsoda, Oransoda, Pelmosoda and Mojito Soda, grouped under the Freedea brand name, as well as the Crodo brands (with the exception of the brand Crodino).
The deal also includes the transfer of a manufacturing and bottling facility located in Crodo, Italy, and the attached water springs and inventories.
In the fiscal year ending 31 December 2016, the Limonsoda business achieved total net sales of 32.8 million. Italy is the brand’s core market, accounting for 84.3% of the overall net sales in FY2016.
The total net sales relating to the brands sold represented approximately 2% of Gruppo Campari’s net sales in FY2016. The transaction is expected to be completed by the end of 2017.
As part of the deal, Gruppo Campari and Royal Unibrew will enter into a multi-year manufacturing agreement, under which Royal Unibrew will continue to manufacture certain Gruppo Campari-owned products which are currently produced at the Crodo bottling facility.
Gruppo Campari CEO Bob Kunze-Concewitz said: “The sale of the Lemonsoda and Crodo business marks a further key step in our strategy of streamlining our non-core activities. In particular, with this transaction we exit the soft drinks business, while retaining our core Crodino brand, to further focus on our key aperitif business in Italy.
The Limonsoda business joined Gruppo Campari in 1995 and was its first acquisition. The range was part of a larger brand portfolio acquired including the non-alcoholic aperitif Crodino.
Since the beginning of 2017 Gruppo Campari has divested several non-strategic assets for a total value of approximately 310 million euros. (www.foodbev.com)
