MILAN (Reuters) -Italian food and beverage company Newprinces said on Tuesday it was evaluating opportunities from the planned disposal of small brands by Italian spirits group Campari. "We have a
Newprinces Considers Acquiring Brands from Campari's Portfolio
MILAN (Reuters) -Italian food and beverage company Newprinces said on Tuesday it was evaluating opportunities from the planned disposal of small brands by Italian spirits group Campari.
"We have a good opportunity now to evaluate Campari's potential dismissals," Chairman Angelo Mastrolia told analysts during a conference call, adding that they were in contact with the company to assess whether any brands might be of interest.
Campari is planning to focus on fewer brands and to reduce its leverage ratio also through the disposal of smaller brands. It noted that more than 30 brands generate about 220 million euros ($256.56 million) in revenue but contribute little to the bottom line.
($1 = 0.8575 euros)
(Reporting by Philippe Leroy Beaulieu, writing by Elisa Anzolin)
