Gruppo Campari Sells Chilean Winery for €30 Million
Italian drinks group Gruppo Campari is to dispose of its Lapostolle wine business in Chile to the local management team. The enterprise value is €30 million which includes a net financial position of €23.3 million. The sold business consists of the Chilean wines and pisco, under the brand ‘Lapostolle’, other brands as well as the vineyards, vinification and production plants, inventory, real estate assets and the hospitality operations in Chile.
The disposal of the Chilean wine business follows the recent sale of Gruppo Campari’s Italian still wine business.
Bob Kunze-Concewitz, chief executive of Gruppo Campari, explains: “With this transaction Gruppo Campari confirms its commitment to fully exit the still wine business, continue to streamline its non-core activities and increase its focus on the core spirits business. Since the beginning of 2016 we have divested non-core assets for a total value of €96 million.”
