C&C buys Asahi UK wholesale arm for nominal sum

M&A · PartnershipEarnings
โดย Yahoo Finance UK·GBJP·Read original
Summary · why it matters

Magners and Tennent's maker C&C has agreed to buy the UK wholesale arm of Japanese beer brand Asahi for a nominal sum. The London-listed Irish firm said the deal includes all of Asahi UK's wholesale customer and supplier relationships and agreements, along with intellectual property, a leased depot and other assets such as vehicles and stock. All supply arrangements to the Fuller, Smith & Turner on-trade estate will transfer to Dublin-based C&C, which will merge the Asahi wholesale business into its Matthew Clark Bibendum operations when the deal completes in October. In a trading update released alongside the deal, C&C said revenues fell 3% in the first half to August 31, with branded revenues up 2% on hot weather and the World Cup offset by a 4% drop in distribution sales, and it remains on track for underlying earnings of around 43 million to 44 million euros, or 37 million to 38 million pounds, for the half. Shares in C&C lifted 6% in morning trading on Friday.

Impact on stocks 4

Consumer Staples▲ · 2 stocks
C&C Group plc
CCR
▲ PositiveCapitalrelevance

C&C agreed to buy Asahi UK's wholesale arm for a nominal sum, merging it into Matthew Clark Bibendum.

Consumer Discretionary▲ · 2 stocks
Fuller Smith & Turner
FSTA
± MixedSupplyrelevance

Supply arrangements to Fuller's on-trade estate transfer to C&C; no direct financial impact stated.

Off-coverage companies 1

Matthew Clark BibendumPrivate▲ Positive
Capitalrelevance

C&C will merge the acquired Asahi wholesale business into its Matthew Clark Bibendum operations.

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