Tag Archive | "c&c group"

C&C Sells Spirits Division To William Grant

C&C Sells Spirits Division To William Grant

C&C Group, the Irish drinks producer behind Magners cider, has sold its spirits and liqueurs division to William Grant, the group behind Glenfiddich, for Eu300m (£259m), it was revealed this Friday. The division includes a complementary portfolio of premium niche brands - Tullamore Dew, Carolans, Frangelico and Irish Mist - which it said are exported to over 80 international markets. The company, which last year paid Eu45m for Gaymers cider, said it would use the proceeds of the disposal to pay down debt. For the year ended 28 February 2009, the division generated revenue of Eu85.9m, ebitda before exceptional items of Eu16.1m and ebit before exceptional items of Eu15.3m. Stephen Glancey, C&C's chief operating officer, added: "While the division represents a comparatively small component of C&C‚s overall earnings, the consideration reflects the quality of its brand portfolio and its strong market positions. [...more]

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C&C Unable To Rule Out Job Losses After Gaymer’s Purchase

C&C Unable To Rule Out Job Losses After Gaymer’s Purchase

Stephen Glancey, chief operating officer of C&C Group, owner of Magners said he is unable to rule-out job losses as the result of its purchase of rival cider maker, Gaymer Cider Company. Speaking at a press conference in Dublin, following the £45m acquistion, Glancey said that while a consultation was ongoing, the aim was to continue to develop both Magners and Gaymer's brands, but cut costs by reducing funds spent on distribution. Glancey added the move to acquire the Shepton Mallet-based cider maker from Constellation Brands was driven by a need to strengthen the business through a portfolio of products covering all sectors of the market. [...more]

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C&C Group Buys Gaymers Cider For £45m

C&C Group Buys Gaymers Cider For £45m

Magners cider producer C&C Group has bought rival manufacturer Gaymer Cider Company from Constellation Brands for £45m. Gaymer's, which employs around 250 people, produces a number of cider brands including Blackthorn, Olde English and Gaymers. C&C said it was funding the deal via a new bank facility of £60m. The acquisition, which is expected to complete by mid-January, would result in savings of £3m by the end of the 2013 financial year, C&C said. The Gaymer's deal is the latest in a list of acquisitions C&C has undertaken following the arrival of ex-Scottish & Newcastle boss John Dunsmore. In August C&C bought the Tennent's lager brand from ABInBev for £180m. [...more]

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Former S&N Executive Neison Joins The C&C board

Former S&N Executive Neison Joins The C&C board

JOHN Dunsmore, the chief executive of Irish drinks group C&C, bolstered his board yesterday with the appointment of former Scottish & Newcastle executive Kenny Neison to the post of strategy chief. [...more]

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C&C Group Buys Tennent’s For £180 Million

C&C Group Buys Tennent’s For £180 Million

The C&C Group today announced it has completed the purchase of Tennent's Lager brand and associated trading assets in Scotland, Northern Ireland and the Republic of Ireland from Anheuser-Busch InBev for a total enterprise value of £180 million. [...more]

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