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Davide Campari [BIT:CPR], the Italian producer of branded beverages, has mandated Rabobank to sell its soft drinks division, according to a source familiar with the situation and three sources briefed on the matter.

This sale kicked off recently, with documentation already dispatched to a selected number of industry counterparts, the sources explained.

Preliminary offers are expected by the last week of September, the first source briefed disclosed, without specifying the exact deadline. This source described the dossier as very appealing, as the sale involves market leading soft drink brands such as Lemonsoda, Oransoda, Pelmosoda, Mojito Soda, Pinacolada Soda and Crodo.

Before launching the auction, Campari also sounded out market interest with pre-emptive approaches, and attracted the interest of a couple of undisclosed counterparts, the first source briefed said. This effort ended without results and the alternative was to organize the structured sale process currently on-going, this source said.

International food companies that have exposure to the Italian beverage market and offer a portfolio of complementary products are among the potential acquirers, the second source briefed noted.

The list of such potential bidders could include Danone [EPA:BN], Nestle Waters, PepsiCo [NYSE:PEP] and The Coca-Cola Company [NYSE:KO], as well as domestic producers of water such as Italian mineral water group Acqua Sant’Anna, this source said.

None of the sources suggested a potential valuation. A sector analyst familiar with Campari’s management said the company could seek a 2x revenue multiple for the carbonated drinks business, disclosing that the soft drinks business had 2014 sales of approximately EUR 40m.