just The Preview - C&C Group FY
C&C Group will report its full-year results tomorrow
C&C Group will report its full-year results tomorrow (15 May). Here, just-drinks takes a look at the highs and lows for the company in the 12 months to the end of February.
- In March last year, Stephen Glancey, C&C Group's CEO, predicted US cider could go the same way as the country's thriving craft beer sector. As the head of the number two player in the US cider market, after its acquisition of Hornsby's in 2011, Glancey can be expected to be confident. But he might want to listen to the CEO of Boston Beer Co, Martin Roper, who said last month cider is unlikely to ever be more than a “niche” category in the US.
- In March 2012, just-drinks revealed C&C is to exit the white cider category in the UK over the long-term. The company took over the Diamond White white cider label when it bought The Gaymer Cider Co in 2009.
- Glancey is that rare voice in the drinks industry – one that isn't against plans to introduce minimum pricing in the UK and Ireland. Last May, he said his group is well placed to absorb any changes, and could even benefit from them in the on-trade.
- Last August, an analyst said C&C should keep an eye out for more acquisitions despite a tough first quarter. “"We estimate that the right deal could add over 10% to earnings,” Nomura said.
- It didn't take C&C long to heed the call - the next month it announced a deal to acquire US-based craft cider producer Vermont Hard Cider Company...
- … and in November, agreed to acquire Irish drinks firm Gleeson Group.
- In February this year, C&C Group said it had changed its business practices after it was fined EUR90,000 (US$122,000) by Ireland's central bank for failing to keep an up-to-date "insider" list.
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