US/UK: C&C Group lands Vermont Hard Cider Company
By Andy Morton | 2 January 2013
 |
C&C Group wants to strengthen overseas sales |
C&C Group has completed the purchase of Vermont Hard Cider Company as it looks to triple its international business in four years.
The US$305m deal, first announced in October, sees the group take over Vermont Hard Cider's Woodchuck brand, the top-selling hard cider brand in the US, C&C said on 24 December. The group's CEO, Stephen Glancey, said last month: “We welcome Vermont Hard Cider's management and employees to the C&C Group and are excited about the opportunities presented by Vermont Hard Cider specifically and a rapidly growing US cider category generally.”
Earlier last month, C&C Group said it wants to grow its international earnings to a fifth of the group's total. The group is also in the process of acquiring Irish drinks firm Gleeson.
Expert analysis
Cider/Perry in the US
Volume sales of cider in the US grew by 20% in 2011, outpacing the 12% CAGR posted over the review period. This growth was largely attributed to the popularity of craft beer in the US and consumers’ desire to try new flavours and tastes. Familiarity with the wide variety and tastes of craft beers has allowed consumers to venture into giving other alcoholic beverages a try. Some craft breweries have also begun to add a cider offering to complement their craft beer portfolio.
Sectors: Beer & cider, Mergers & acquisitions
Companies: C&C Group
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