Punch Barbieri entered Gruppo Campari’s portfolio in 2003 as part of the acquisition of Barbero 1981 that also included Aperol, Aperol Soda, Mondoro Asti and Enrico Serafino still wines.

Punch Barbieri, which is sold mainly in Italy, is described by Gruppo Campari as made from rum, mandarin and orange.

A statement from the Gruppo Campari said the divestment meant it could “focus more closely on priority brands in its business portfolio”.

Distillerie Moccia, which produces Zabov egg liqueur, is said to have a strategy of “expanding its business by acquiring leading local brands".