Finance
NewPrinces completes acquisition of Britain's Diageo Plant in Northern Italy
Published by Global Banking and Finance Review
Posted on September 30, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 30, 2025
1 min readLast updated: January 21, 2026
NewPrinces acquires Diageo's Northern Italy plant for €100 million, impacting financials and future operations in the region.
(Reuters) -Italy's NewPrinces has completed the acquisition of a plant in northern Italy from the world's biggest spirits producer Diageo for 100 million euros ($117 million), it said on Tuesday.
The purchase price includes 107 million euros of net cash and will reduce its overall net debt by 7 million euros, NewPrinces said in a statement.
The plant in Santa Vittoria d'Alba in the northwestern Piedmont region will continue to supply some products to affiliates of Diageo for up to 15 months, the company added.
NewPrinces was founded by Italian entrepreneur Angelo Mastrolia, who started out with a small milk business in the southern city of Salerno.
It has grown mainly through acquisitions, often buying troubled assets from large multinational groups.
The final purchase price is subject to change, the company said.
($1 = 0.8518 euros)
(Reporting by Philippe Leroy Beaulieu in Gdansk; Editing by Matt Scuffham)
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control of that company.
Corporate strategy refers to the overall plan and direction a company takes to achieve its long-term goals, including decisions on acquisitions, mergers, and resource allocation.
In business, a plant refers to a facility or location where goods are manufactured or processed. It can include factories, warehouses, and other production sites.
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