IRELAND / UK: C&C Group shareholders approve Tennent's buy

By just-drinks.com editorial team | 28 September 2009

Shareholders in C&C Group have approved the firm's deal to acquire the Scottish and Irish brewing operations of Anheuser-Busch InBev, inlcuding the Tennent's lager brand.

Nearly 100% of the shareholders approved the deal at a C&C Group general meeting late last week.

C&C Group announced in August that it would buy A-B InBev's brewing assets in Scotland, Northern Ireland (UK) and the Republic of Ireland for GBP180m (US$292m).

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.

The deal is expecte to be completed by mid-October.

For more details on the deal, click here.

Sectors: Beer & cider

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