Sanpellegrino (Nestlé Waters) has sold San Bernardo to Gruppo Montecristo Srl

Sanpellegrino (Nestlé Waters), the leading Italian player in high quality mineral water and part of the Nestlé Group, has sold its San Bernardo mineral water business to Gruppo Montecristo Srl, a fast-growing Italian group, for an undisclosed consideration.

San Bernardo is a high quality, premium mineral water brand. Historically an international brand, San Bernardo has progressively become a domestic one sold only in some north-western regions of Italy.

Gruppo Montecristo is a fast-growing Italian player in the mineral water and soft drinks industry, with US$46 million turnover expected in 2015. The company owns two mineral water brands (Fonte Ilaria close to Lucca, and Fonti di Posina close to Vicenza) and is also a major private label producer of soft drinks for mass retailers and discount stores.

Sanpellegrino, an Italian company controlled by Nestlé Waters and founded in 1899, is one of the most renowned mineral water and soft drink players worldwide with over US$1 billion of revenues. Distributed in over 120 countries in all five continents, all its products – from non-alcoholic aperitifs to soft drinks – represent quality excellence, especially its extraordinary mineral waters. The company owns the globally renowned brands Sanpellegrino (sparkling water) and Acqua Panna (still water) as well as other primary Italian brands, such as Levissima, Nestlé Vera and Recoaro.

Oaklins' team in Italy was mandated by Sanpellegrino in late September 2014 to manage the divestment process of the San Bernardo business and organize a competitive auction among unsolicited domestic and foreign trade buyers. The signature of the binding Sale & Purchase Agreement was executed in early March 2015, less than six months after the mandate was assigned to our Italian team.