IRELAND/UK: C&C Group takes 50% stake in Scottish wholesaler
C&C has acquired a 50% stake in Wallaces Express
C&C Group has acquired a 50% stake in Scotland-based wines and spirits wholesaler Wallaces Express for an undisclosed sum.
The Magners and Tennent's Lager producer said today (22 March) that Wallaces, which claims to be Scotland's largest private wholesaler, will be run “independently” from its beer business. However, C&C said it will “seek opportunities to take advantage of cross-selling for customers, particularly in wines and spirits”.
Kenny Neison, C&C's CFO, said: “Today's announcement is consistent with our ambition of developing a multi-beverage platform in the Scottish drinks market.”
A C&C Group spokesperson told just-drinks "commerical arrangements" for the deal are not being dislcosed.
Asked whether the deal would result in job losses at Wallaces Express, the spokesperson said: "It’s business as usual. Wallaces Express are currently recruiting and this will continue."
Brian Calder, Wallaces Express' MD, said: “In terms of strategic aims and culture, the two businesses are well aligned and I am confident that both businesses will continue to move forward to the benefit of the Scottish licensed trade."
Earlier this month, C&C completed a EUR12.4m (US$16m) acquistion of Irish distributor Gleeson Group.
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