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Campari disposes of Enrico Serafino Italian wine operation

Published:  11 June, 2015

Italian drinks giant Gruppo Campari has sold off its Piedmont-based Enrico Serafino wine operation.

The business has been bought by US-based Krause Holdings in a €6.1 million deal that includes trademarks, vineyards, production plants and inventory.

Campari will continue to distribute Enrico Serafino wines in Italy and export markets. The wines are sold through Matthew Clark to the UK on-trade.

Enrico Serafino makes still and sparkling wines including Barolo and Barbaresco.

Krause owns Kum & Go convenience stores, property and farming businesses in the US.

Bob Kunze-Concewitz, Campari's chief executive officer, said: "The transaction underlines the Gruppo Campari strategy of strengthening its focus on its core high-margin spirits business via the disposal of non-core assets."

It has already sold Limoncetta di Sorrento and a pharmaceutical business in Jamaica this year.

Krause chief executive officer Kyle Krause said: "We intend to build on the heritage of the brand and focus on producing world class quality wines.

"I am passionate about Italian wines, especially those from Piedmont, and this acquisition provides a platform in line with my intent to invest in and farm additional vineyards in the region."