US firm swallows Campari brands

Drinks firm Campari has agreed to sell its Carolans and Irish Mist brands to American rival Heaven Hill for $165 million (£127m).

It is the biggest disposal by the Italian group, and comes as it seeks to focus its portfolio on core brands and cut its debt level. Carolans, an Irish cream alcoholic drink, and Irish Mist, a liquor, together made up 2 per cent of Campari’s turnover in 2016.