Newlat Food S.p.A., an Italian multi-category food company based in Reggio Emilia, Italy, has signed an exclusivity agreement to acquire Diageo’s beverage production site in Santa Vittoria d'Alba, located in Italy's Piedmont region. The facility, previously earmarked for closure by Diageo in December 2024 (inside.beer, 14.12.2024), manufactures and bottles a variety of alcoholic beverages, including ready-to-drink (RTD) and low- or no-alcohol products.
The deal was confirmed on 13 May 2025 by Newlat, shortly after the Italian Ministry of Enterprises and Made in Italy (Mimit) disclosed that the Italian food company had submitted a binding offer for the site. Crucially, the proposal includes the safeguarding of all 349 employees, ensuring continuity of operations and investment in new product development.
This acquisition marks Newlat’s strategic entry into the alcoholic beverages sector, complementing its existing beverage portfolio and bolstering its market presence, particularly in the UK, where the group already generates over EUR 350 million in sales from drinks. The move also aligns with Newlat's broader transformation, following its GBP 700 million takeover of Princes last year and the company’s rebranding to NewPrinces.
Newlat Food S.p.A. was founded in 2004 and listed on the Borsa Italiana since 2019. The group operates in dairy, pasta, bakery, baby food, and beverage sectors. Under the leadership of CEO and chairman Angelo Mastrolia, the company has expanded rapidly through acquisitions in both Italy and the UK, including Symington’s and most recently Princes. It markets several well-known brands such as Buitoni (licensed), Polenghi, Delverde, and Pezzullo. In the UK, Newlat sells a wide range of non-alcoholic beverages through Princes, including fruit juices and juice drinks (Princes, Jucee, Truly), squash and cordials, canned fruit juices, and functional water-based drinks—often also for private label clients. The Diageo plant acquisition thus marks Newlat’s first major move into alcoholic and RTD beverage production. With annual revenues exceeding EUR 800 million and ambitions to surpass EUR 1 billion, Newlat is positioning itself as a pan-European consolidator in the food and beverage industry.
Although the financial details of the Diageo site acquisition remain confidential, Angelo Mastrolia indicated that full disclosure will follow once the transaction concludes. Both companies have confirmed that discussions are ongoing, with further updates to be shared in accordance with legal reporting obligations.
Diageo, the global alcohol giant, had announced the plant’s closure late last year as part of a broader restructuring plan. This sale to Newlat not only avoids a shutdown but ensures that the facility continues contributing to Italy's beverage industry.
