<\/p>\n
Roger White: attractive opportunity<\/p>\n
C&C Group, the Dublin-based owner of Tennent\u2019s and Innis & Gunn, is acquiring the UK wholesale interests of Asahi UK.<\/p>\n
The businesses will be integrated into the group\u2019s Matthew Clark Bibendum (MCB) operations. <\/p>\n
C&C will assume all customer and supplier relationships and agreements alongside the intellectual property, a leased depot, and certain assets including vehicles and stock.<\/p>\n
The agreement also includes the full transfer of supply arrangements to the Fuller, Smith & Turner on-trade estate.<\/p>\n
Terms have been agreed, with completion due in early October.<\/p>\n
Roger White, chief executive of C&C Group, said: \u201cThis move represents an attractive opportunity to provide a significant number of new customers with MCB market leading service and range proposition whilst simultaneously delivering immediate scale and efficiency into the Group\u2019s operations, in line with our strategy.\u201d<\/p>\n
The former head of AG Barr added: \u201cWe expect the majority of the customer and supplier transitions to be completed in the coming weeks, and for the acquisition to make a small positive contribution to the overall financial performance of MCB in FY27.\u201d<\/p>\n
The deal was announced alongside a trading statement showing performance in the six months to 31 August has been in line with expectations.<\/p>\n
Net Revenues were 3% below last year, reflecting growth of 2% in Branded revenues offset by decline of 4% in Distribution revenues.<\/p>\n
Branded revenue growth was supported by continued momentum in the company\u2019s core Tennent\u2019s and Bulmers brands, favourable weather and targeted marketing activity around the World Cup period. <\/p>\n
In addition, the company said its Premium portfolio has seen a particularly strong contribution from the Innis & Gunn brand now under the group\u2019s full ownership.<\/p>\n
In Distribution, the revenue decline was principally driven by the planned exit of some lower margin
customer business, combined with the continued impact of on-going market decline in outlet numbers
and certain drinks categories.<\/p>\n
Underlying operating profit for the first half is anticipated to be in the range of \u20ac43\u201344m, in line with expectations. <\/p>\n
\u201cWe remain on track to achieve full year operating profit in line with market expectations,
albeit noting that the market conditions remain volatile and we have the important Christmas trading
period ahead of us.<\/p>\n
\u201cWe look forward to sharing more about the group\u2019s strategy at the Capital Markets Day on 24
September. The group\u2019s interim results will be announced on 28 October.\u201d<\/p>\n
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\t #acquires #Asahi #UKs #wholesale #businesses #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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