UK / IRELAND: A-B InBev completes Tennent's sale to C&C Group

By just-drinks.com editorial team | 29 September 2009

Anheuser-Busch InBev has completed the sale of its brewing operations in Northern Ireland, Republic of Ireland and Scotland, including the Tennent's lager brand, to C&C Group.

A-B InBev said today (29 September) that it has closed the GBP180m (US$286m) assets sale. Its announcement comes less than a week after C&C Group shareholders approved the deal.

As part of the deal, A-B InBev will retain the right to use the Tennent's Super and Tennent's Pilsner brand names in "certain worldwide geographies".

The sale is part of the Belgium-based brewer's plan to dispose of US$7bn of assets "as quickly as possible", it said. The group achieved more than $3.5bn of disposals in the first six months of 2009 and there is reported in interest in its assets in Eastern Europe, as well as several theme parks owned by A-B in North America.

Ireland-based C&C, which owns Magners cider in the UK and Bulmers in Ireland, hailed the deal as a "long-term play" to expand the company's portfolio.

Net sales for the acquired business were GBP162m in calendar 2008, representing almost a third of C&C Group's own annual sales, which came in at around GBP453m in the year to the end of February.

Sectors: Beer & cider

Companies: InBev, C&C Group, Anheuser-Busch