Gruppo Campari has agreed to divest Limoncetta di Sorrento liqueur business to Lucano 1894.
The move is in line with Gruppo Campari's strategy to bolster its focus on its core high-margin spirits business by streamlining non-core businesses.
The €7m transaction includes the sale of Limoncetta di Sorrento trademark, a lemon based liqueur brand, and 100% of the share capital of Alimenta, owner of the plant for the production of the concentrate.
Under the agreed terms, Gruppo Campari will continue to manage the bottling activities of Limoncetta di Sorrento on behalf of Lucano 1894 at its Finale Emilia plant until December 2015.
The transaction is expected to be completed on 30 January 2015.
Meanwhile, the company is also selling Federated Pharmaceutical division of J. Wray & Nephew in Jamaica to Kirk Distributors.
The impact of the sales is anticipated to be below 1% of Gruppo Campari's sales on a full year basis.
