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William Grant bids to take on C&C Group's spirits and liqueur business

Published:  30 April, 2010

William Grant & Sons has entered into an agreement with the C&C Group to acquire its 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.

The deal is now dependent on the C&C Group acquiring shareholder approval, but if that is agreed then it is hoped the transfer can take place on June 30.

In a company statement William Grant & Sons said 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.

William Grant said it was committed to maintaining and developing C&C's current Irish operations including C&C's manufacturing site in Clonmel, Co Tipperary.