The agreement provides for all intellectual property, stock of finished products, labor equipment and other relevant property.
The Campari Group joined the production of Cinzano Vermouth and Sparkling Wines by a private Italy company for the manufacture of Alcohol Caffo Group 1915 (owned by the Bitter Amaro del Capo Brand). This was announced the day before the Campari press service.
It is indicated that the sale also includes the frattina business business.
“This transaction has marked the significant development of the announced approach to the Campari Group and its obligations to optimize the portfolio by selling non -core brands to strengthen commercial and marketing concentrations in the main business of alcoholic beverages, overall alleviation of operational activities and reduce the loading of debt,”
The transaction provides for a contribution to the recently created company Cinzano and Frattina Enterprises, including all intellectual ownership, stock of finished products, some labor equipment, contractual relations, as well as other relevant properties. Production capacity in Italy and Argentina, where the Campari Group also produces other brands, are not included from the perimeter of the transaction.
The closure of the transaction, the value of which is 100 million euros, is expected until the end of 2025.
In 2024, the net sales of Cinzano and Frattina reached 75 million euros. The average annual growth rate in the last four years is worth 5%. Their part in the total sales of the Campari Group is 2%.
Earlier it was found that Google wanted to buy a wiz of $ 32 billion. Acquisition will be the largest in the history of the alphabet, the Google’s mother company.
Canada’s oldest company is on the verge of closing
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.