NewPrinces (formerly Newlat Food), the Italian food and beverage group based in Reggio Emilia, has now signed the definitive agreement to acquire 100% of Diageo Operations Italy, including its beverage production site in Santa Vittoria d’Alba, Cuneo. The acquisition, which was already announced in May 2025 (inside.beer, 13.05.2025), secures all 349 jobs at the facility and marks NewPrinces’ strategic entry into the alcoholic beverages sector.
The Piedmont site, previously scheduled for closure by Diageo in December 2024 (inside.beer, 14.12.2024), produces a range of alcoholic beverages, including ready-to-drink (RTD) and low- or no-alcohol products. With the signing of the final contract, NewPrinces ensures continuity of operations and will integrate the plant into its existing beverage operations, particularly to strengthen its market share in the UK, where it already generates over EUR 350 million in beverage sales.
Pending regulatory approvals, closing is expected by the end of 2025. In the meantime, Diageo will maintain temporary production contracts and provide transitional services to the new owner, facilitating a seamless handover.
This deal also reflects NewPrinces’ rapid transformation following its GBP 700 million acquisition of the British Princes Group and its corporate rebranding. With 31 production sites across Europe and beyond, and more than EUR 800 million in annual revenues, NewPrinces is aiming to surpass EUR 1 billion and become a leading pan-European player in food and beverage consolidation.
Under the leadership of CEO and chairman Angelo Mastrolia, NewPrinces has expanded through multiple strategic acquisitions. The Diageo plant—formerly part of a restructuring program—is now set to play a central role in the group’s industrial network.
The financial terms remain confidential until closing, but both companies confirm the process is progressing as planned and according to legal disclosure obligations.
