Campari: soft drinks division sold for 80 million euros.

(CercleFinance.com) - Campari announced last night that it had sold its "soft drinks" division Lemonsoda to the Danish brewer Royal Unibrew for 80 million euros.


Lemonsoda was the Italian spirits group's first acquisition, bought in 1995.

The price quoted considers an enterprise value, without debt. Since the beginning of 2017, Campari has sold assets totalling 310 million euros.
The non-alcoholic beverages business concerned includes Lemonsoda, Oransoda, Pelmosoda and Mojito Soda, all grouped together under the Freedea brand, as well as the Crodo brand and mineral waters. The scope considered, which made sales of 32.8 million euros in 2016, includes a production and bottling plant in Crodo, northern Italy.

Analysts at Bryan Garnier welcome the group's refocusing on its core business. However, as a result, they have reduced their 2018 sales forecast by 2%, along with a 1.5% cut in expected operating income.


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