Diageo crisis, Newlat's takeover offer arrives

A turning point in the crisis at Diageo, the historic liquor factory in Santa Vittoria d'Alba, in the province of Cuneo. Newlat Food, the Reggio Emilia group that owns the brands Giglio, Polenghi Lombardo Delverde, among others, has presented a binding offer for the acquisition of the company's assets. The plan includes the protection of all 349 workers currently employed in the Piedmont plant by maintaining production and introducing new products. This was announced on Monday 12 May in a note from the Ministry of Enterprise and Made in Italy, at the end of the meeting between unions, company parties and regional and national institutions.

The current English ownership of the Santa Vittoria d'Alba production site will therefore give way to a new industrial operator, bringing back into Italian hands the ownership of a historic national production site, once the beating heart of the Cinzano brand. The new buyer's industrial plan will be examined in depth in the coming days together with the trade unions.

"The offer to purchase Diageo by an Italian operator, Newlat Food, is excellent news because it safeguards production within the plant and jobs," commented the President of the Piedmont Region, Alberto Cirio, at the end of the meeting. "We have been working in this direction for months, obtaining from the government, in addition to the activation of the meeting at the Ministry of Labor, also that of the meeting at Mimit, which has allowed us to reach this important result today."

The unions are also satisfied: "The binding purchase offer by Newlat of the Diageo plant in Santa Vittoria d'Alba - reads a joint note from Flai, Fai and Uila - will guarantee full continuity of employment and production. We express appreciation for the fact that the ownership of the plant will return to Italian ownership. After so many months of uncertainty, workers can finally look to their future with more serenity".