Danone has decided to sell its Italian bottled water brands, including Ferrarelle, according to local press reports.

French newspaper Les Echos said today (22 November) that the French group will sell its Italian water subsidiary Italaquae to LGR Holding.

LGR is controlled by an Italian businessman, Carlo Pontecorvo, who until 1997 owned the company which supplied Ferrarelle with its glass bottles.

The financial details of the deal have not been disclosed, the newspaper said, but it is expected to go through in early January next year.