Magners manufacturer sells off distribution arm |
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| Written by Claire Weekes | |
| Tuesday, 16 September 2008 | |
Irish drinks manufacturer and distributor C&C Group has sold its distribution arm for €9.6 million (£76 million). The manufacturer of Bulmers and Magners ciders has sold FindlaterGrants, one of Ireland's biggest drinks distributors, to business support services group DCC plc. Maurice Pratt, chief executive of C&C, said: "The Board of C&C is pleased to announce this transaction with DCC and believes it is in the best interests of C&C's shareholders, the FindlaterGrants employees and the brands it distributes." C&C recently issued a trading statement warning that bad weather conditions and the economic downturn were slowing down sales. It said proceeds of the sale would be used for general corporate purposes. Last year C&C sold off its soft drinks division to Britvic in a £170 million deal. Related Articles
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