William Grant
& Sons announce binding agreement for
new acquisition.
Premium spirits business and independent
family distillers, William Grant & Sons
Holdings Ltd is pleased to announce that
it has entered into a binding agreement
for the purchase of the shares and
assets of C&C Group plc’s spirits and
liqueur business for €300m. The purchase
will include the C&C portfolio of Irish
spirits and liqueur brands, Tullamore
Dew, Carolans, Frangelico* and Irish
Mist.
C&C Group is required to obtain
shareholder approval for the disposal.
Subject to that condition, we expect the
transaction to be completed on 30 June
2010. There are no other conditions for
the sale, although consultation will be
carried out with the employees within
the business and any others who are
affected by the transition.
Stella David, Chief Executive Officer of
William Grant & Sons said: “William
Grant & Sons has a rich history in
Scotch whisky dating back to 1886, and
we have been looking to further develop
our non-Scotch portfolio. Irish whiskey
is a natural fit and C&C’s spirits
business provides a unique opportunity
to acquire a number of significant
brands and enter the highly desirable
and dynamic Irish whiskey category.
“We shall make significant investment in
Ireland and invest in the long-term
value growth of the brands, including
Tullamore Dew Irish Whiskey which, at
600,000 cases, and given its potential,
will become a core global brand in our
business,” she added.
The Company also confirmed its
commitment to building a strong business
in Ireland and to maintaining and
developing current operations across the
Irish sites including C&C’s
manufacturing site in Clonmel, Co
Tipperary.
Due to the nature of the legally-binding
agreement, William Grant & Sons is
unable to comment further at this time.
|
Keep up to date with
the latest whisky news and special
offers