Campari, the Italian wine and spirits producer, has announced its intention to sell its soft drinks business Lemonsoda to Danish brewing and beverage company Unibrew for €80 million ($94 million).
According to a Campari statement, the decision to sell its non-alcoholic drink brands Lemonsoda, Oransoda, Pelmosoda and Mojito Soda, sold under the Freedea banner, as well as the Crodo brands (with the exception of Crodino), is part of the firm’s strategy to streamline its brand portfolio and focus on its spirit business.
“The sale of the Lemonsoda and Crodo business marks a further key step in our strategy of streamlining our non-core activities”, commented Campari CEO Bob Kunze-Concewitz. “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. We are very pleased to sign this transaction with Royal Unibrew, a focused player and brand developer in the soft drinks and mineral water segments, and a perfect fit for the Lemonsoda business”.
The translation is expected to be completed by the end of 2017.