Diageo to sell Italian operations

Diageo has announced an agreement to sell its Italian subsidiary, Diageo Operations Italy S.p.A., including the Santa Vittoria production facility, to New Princes S.p.A. (formerly Newlat Food S.p.A.), a major player in Italy’s food and beverage sector.

The transaction is part of Diageo’s strategy to optimise its global production network, enhancing operational efficiency to better serve key markets. The deal ensures continuity of employment for staff at the Santa Vittoria facility. A fixed-term service agreement will also be implemented post-completion to support a smooth transition.

The sale is subject to regulatory approvals and is expected to be finalised later this year. This move reinforces Diageo’s focus on strategic agility and long-term value creation within its global supply chain.