News

UK: Bulmer eyes £150m beer buy as family's future uncertain

Most popular

Another drinks CEO steps down - But, why?

Pernod Ricard Performance Trends 2014-2018 - data

What's coming up in soft drinks in 2019?

Bar Nøne launch proves Coca-Cola is faster

MORE

HP Bulmer, the UK's leading cider producer, is believed to be close to announcing an acquisition worth £150m, according to CEO Mike Hughes.Talking to the UK press, Hughes said that a deal could come in the next 18 months and the company was looking at a number of beer branding and partnership deals to broaden the group's market. The company, valued at £200m, would issue shares to fund any major acquisition. However, this once more brought into question the Bulmer family's 50% stake in the company.Esmond Bulmer at the company's annual results this week announced his plans to step down as chairman after 40 years. This has added to the speculation that pressure will be brought to bear on the family to reduce their stake.Alan Flockhart said that the family would be behind any board strategy but that there were no fixed plans at present.The group has made a number of acquisitions in the last year. These include a £32m purchase of UK wholesaler Beer Seller and a £19m investment to buy American Hard Cider Company. The latter gave Bulmer a 40% share in the US cider market.The group's annual results showed underlying profits for the year up 14% to £28.4m. Turnover was up 6% to £335m. The results were ahead of analysts predictions.


Related Content

"We've been around for almost 300 years - we never rush things" - Interview, Aspall Cyder's Henry Ch...

The Boston Beer Co upbeat on 2018 as 2017 sales dip continues - results

The Boston Beer Co upbeat on 2018 as 2017 sales dip continues - results...

How the future is shaping up for RTDs & cider - Research in Focus

How the future is shaping up for RTDs & cider - Research in Focus...

As Irish whiskey comes of age, so do its challenges - Focus

As Irish whiskey comes of age, so do its challenges - Focus...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?