C&C sells off drinks brands for €150m

THE drinks and snack food group C&C has sold two of its brands to the Italian spirits maker Campari for €150 million.

C&C will use the proceeds to pay down part of its €700m debt in advance of an expected flotation of the company, best known for Tayto crisps and Bulmers cider brands.

Yesterday it sold Barbero 1891, the C&C subsidiary which makes Aperol, Aperol Soda and Barbieri liqueurs. Barbero is based in Canale, Italy, and employs 120 people. The deal is worth a total of €220m, but the price tag includes Barbero’s 70m cash pile going to Campari.