Bid to expand C&C beyond the UK
Published 18/06/2010 | 05:00
THE chief executive of drinks company C&C Group, John Dunsmore, said yesterday that he wants to expand the business beyond the UK.
Mr Dunsmore hopes to achieve this within the next three to five years. He was speaking at an EGM to approve the sale of C&C's spirits and liqueur business to the Scottish brewer, Grants. Shareholders overwhelmingly approved the deal.
The vote ratifies the sale of the division for €300m which was agreed in April. The deal will close at the end of this month.
Meanwhile, new figures show that sales of C&C's Magner's cider have increased by nearly 28pc year-on-year (yoy) in the UK on-trade cider market. Data from CGA Strategy, which analyses the UK on-trade, showed that Magner's volumes increased 24pc yoy in a flat on-trade cider market for the four weeks up to April 17.
Davy Stockbrokers described the growth of Magners (the first significant yoy growth since 2007) as a "key pillar" for C&C this year.