Dublin-based beverage company C&C Group has agreed to acquire the Irish, Northern Irish and Scottish businesses of Anheuser-Busch InBev.
Dublin-based beverage company C&C Group has agreed to acquire the Irish, Northern Irish and Scottish businesses of Anheuser-Busch InBev (ABI) for £180 million.
The acquired assets include the Wellpark Brewery in Glasgow, Scottish lager Tennent’s, and distribution rights to ABI brands such as Beck’s and Stella Artois. The businesses employ some 300 staff in Ireland, Northern Ireland and Scotland and generated sales of £162.2 million in 2008.
C&C is best known as the manufacturer of Magners cider and Irish whiskey Tullamore Dew. John Dunsmore, CEO of C&C, said: ‘Tennent’s is a celebrated brand and is a compelling strategic fit for the group to develop alongside Magners in Scotland and Northern Ireland. This is a great opportunity to strengthen our route to market and broaden our product portfolio by combining our cider brands with some of the world’s leading beer brands.’
In the year to February 2009, C&C reported a decrease in revenue of 11 per cent to €514.4 million (£451.8 million) and an operating profit of €100.4 million (£88.2 million).