The deal is inclusive of the Santa Vittoria manufacturing facility in Northern Italy and consists of continuity of employment on the web site.
Diageo has acknowledged that the choice aligns with the corporate’s “ongoing dedication to optimising its world manufacturing community to raised serve its markets”.
The settlement for NewPrinces to amass the Santa Vittoria manufacturing facility was initially introduced in Could, with a spokesperson for Italy’s Ministry of Enterprises and Made in Italy (Mimit) confirming on the time that the deal included the safety of all 349 employees employed on the facility.
The sale is one in every of plenty of current divestments made by the group. In January, Diageo offered its majority shares in Guinness Ghana to Castel Group, and in March it backed out of its Distill Ventures accelerator program.
Additionally in January, Diageo closed the Chase Distillery within the west of England, transferring manufacturing of its gin and vodka to Scotland.
In February, the group’s Indian arm United Spirits introduced the closure of its manufacturing plant in Hyderabad.
Completion of the transaction is predicted later this 12 months, topic to regulatory approval.
