October 4, 2017 / 3:56 PM / a year ago

Campari sells Lemonsoda business for 80 million euros to Royal Unibrew A/S

MILAN (Reuters) - Italian beverage group Campari (CPRI.MI) said on Wednesday it agreed to sell its Lemonsoda business to Denmark-based Royal Unibrew A/S (RBREW.CO) in an 80 million euros (70.87 million pounds)deal.

FILE PHOTO - Campari's mignon bottles are is seen in a window of "The Camparino" bar historically known as the bar of the Campari brand downtown Milan, February 29, 2016. REUTERS/Stefano Rellandini/File Photo

The business sold includes alcohol free fruit-flavoured variants of Lemonsoda, Oransoda, Pelmonsoda and Mojito soda, other soft drinks under the Crodo brands and water springs.

Campari, however, will retain popular aperitif brand Crodino.

“Since the beginning of 2017 Campari has divested several non-strategic assets for a total value of approximately 310 million euros,” the group said in a statement adding the sale fits with its strategy to focus on high-margin spirits brands.

Reporting by Francesca Landini and Maria Pia Quaglia

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