ITALY: Sorgente Santa Croce to be acquired by Italian mogul - report
The Italian Faroni family has plans to sell its spring water bottling business to local entrepreneur Camillo Colella.
Water bottler Sorgente Santa Croce, which currently takes up 15% of the mineral water market in central and southern Italian regions, was cited by ANSA yesterday (27 November) confirming that the sale to Colella will be "formalised" by the end of the year.
Following the acquisition, Colella, who already controls the Castellina mineral water bottling firm, will have the capacity to annually bottle over 600m litres of mineral water.
The impending sale will reportedly make Colella one of the largest entrepreneurs in the sector.
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