The C&C Group plc has announced that it has agreed to acquire the Gleeson Group, a leading supplier and distributor of beverages in Ireland for E12.4million.
The Gleeson Group is the largest distributor of packaged long alcohol drinks (LAD) to the licensed on-trade in Ireland. Its leading trading platform represents a number of beer, wine and spirits brands on an agency basis. It manufactures Tipperary mineral water, Finches soft drinks and a range of own-label brands for a number of retailers. It also supplies PET bottles to drinks manufacturers.
Stephen Glancey, CEO of C&C, said:
“We are pleased to announce our agreement to acquire the Gleeson Group, a deal that represents a significant investment in Ireland for C&C. The acquisition has the potential to transform our existing Irish business through the addition of an extensive distribution network and the creation of an attractive, multi-beverage brand platform.
Over the past 3 years, we have progressively diversified the Group’s brand portfolio in Ireland from the single premium cider brand Bulmers to a broader LAD range including Tennent’s, Caledonia Smooth and a number of beer agency brands. The acquisition of the Gleeson Group accelerates the re-shaping and diversification of C&C in Ireland. The extended portfolio and direct distribution network should create a more resilient trading model that is better suited to dealing with the challenges of both current and future trading environments. It is a model that has the potential to deliver growth through investment, further brand acquisition and new agency agreements.
This transaction provides us with the opportunity to significantly strengthen our Irish business and will create value for our customers, suppliers and shareholders.”
The acquisition does not include the Merry’s cream liqueur or the cider businesses of the Gleeson Group, which are being retained by the vendor. The business has its principal production facilities at Borrisoleigh, Co. Tipperary and 11 distribution depots across Ireland.