Newlat Food has entered into an exclusivity agreement to acquire Diageo’s production facility located in Santa Vittoria d’Alba, Italy.
The transaction would enable Newlat Food to complete and strengthen its offering in the drinks category – a sector where it already generates over €350 million in revenue in the United Kingdom.
The facility boasts extensive experience in the production of a wide range of alcoholic beverages, ready-to-drink products, and low and no alcohol products.
Diageo revealed plans to close the facility last year.
The Newlat Group is a multinational, multi-brand, multi-product and multi-channel player in the Italian and European food industry, with a portfolio of more than 30 historic and internationally recognised brands.