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C&C Group buys Asahi UK's wholesale interests
The acquisition will fold Asahi UK wholesale operations into Matthew Clark Bibendum and add new customers, while C&C expects first-half operating profit of 43-44 million pounds.
- On Friday, Dublin-based C&C Group agreed to acquire the UK wholesale arm of Japanese beer brand Asahi for a "nominal" sum, integrating Asahi's customer and supplier relationships into C&C's Matthew Clark Bibendum operations.
- The agreement shifts supply arrangements for the Fuller, Smith & Turner on-trade estate to C&C; the deal will merge into MCB to deliver immediate scale and efficiency, CEO Roger White said.
- In a trading update, C&C reported a 3% dip in net revenues for the first half, as a 4% decline in Distribution sales offset a 2% rise in Branded revenues boosted by hot weather and the World Cup.
- The company remains on track for underlying earnings of around 43 million to 44 million euros for the first half, with management expecting the acquisition to make a small positive contribution to MCB's financial performance in FY27.
- Shares in C&C lifted 6% in Friday morning trading following the announcement; despite volatile market conditions, the company remains on track for full-year operating profit with the important Christmas trading period ahead.
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Total News Sources18
Leaning Left6Leaning Right0Center3Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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