CAMPARI Gruppo has agreed to buy three brands from William Grant for £100m.
Carolans, Frangelico and Irish Mist, which William Grant acquired from the Irish company C&C group, will be taken by Campari.
Under a ten-year agreement, William Grant will continue to blend and bottle the liqueurs in Ireland.
It said there would be no job losses as a result of the sale, which will be completed by the start of October.
William Grant bought the spirits and liqueur business from C&C group for £250m earlier this year.
William Grant is more than 100 years old, with brands including Glenfiddich, Grants and Hendrick’s Gin.
The company’s chief executive Stella David said: “We remain committed to building our business in Ireland and to building the long-term value of Tullamore Dew around the world.
“Whilst Tullamore Dew was the key focus in our newly acquired portfolio, we always intended to develop the liqueur brands.
“However, we were offered a very attractive price from Campari and believe they will be able to develop these brands.”