The British company Diageo agreed to sell the Venezuelan rum brand “Pampero” to the Italian food and alcoholic beverage company Gruppo Montenegro.
As published Yahoo Finance, the amount of the transaction is unknown at this time and the negotiation is expected to be completed in the coming days.
It should be noted that the Pampero rum brand “is líder» in the Italian market by volume, as well as having a «strong presence» throughout continental Europe.
John Kennedy, president of Diageo Europe, noted that the sale will allow the company to focus on the core areas of strength of its products.
“Ron Pampero” passes into the hands of the Italian group Montenegro https://t.co/KRyadeY3uD
— The voice of Italy (@voceditalia) July 18, 2024
Likewise, he stated that “it demonstrates our disciplined and strategic approach to capital allocation.”
«Looking ahead, Pampero is well positioned for its next chapter of growth. We are confident that Gruppo Montenegro is the right owner to maintain and develop Pampero’s authenticity and its leading position in Italy and throughout continental Europe,” emphasized the businessman.
The Italian company Gruppo Montenegro is based in the town of Zola Predosa, in Italy, and its products include liqueurs such as Amaro Montenegro, Rabarbaro Bergia, Grappa Libarna and Edgar Sopper London Dry gin.
#Italian #group #buys #Venezuelan #Pampero #rum #brand #Diageo
2024-07-21 07:53:54
