Dublin-headquarted C&C Group, whose brands include Magners and Tennent’s, announced this morning it was in ‘advanced discussions’ to acquire the entire issued share capital of Matthew Clark and Bibendum and subsidiary businesses.
This afternoon C&C Group announced that the acquisition has been completed.
AB InBev will provide additional financial support for the transaction.
Matthew Clark Bibendum is the largest independent distributor to the UK on-trade drinks sector. Last week parent company Conviviality Plc announced its intention to file for administration and explore a potential sale of all or part of its business.
“C&C is pleased to be able to lead this industry-wide solution and bring stability to the business after the recent period of uncertainty,” says a statement from C&C Group.
Enhance access for C&C cider
C&C Group plans to run Matthew Clark Bibendum as a separate business.
It believes that the acquisition of Matthew Clark Bibendum will allow it to ‘create the leading independent route-to-market network across the British Isles, alongside C&C’s existing drinks wholesaling business in the UK and Ireland’.
It will also enhance access for C&C’s cider and super premium brands across both the on and off trade in the UK.
Stephen Glancey, CEO, C&C Group, said: “We know the Matthew Clark and Bibendum businesses very well. They are great businesses with unparalleled on-trade market access, a wide range of supplier relationships and supported by a knowledgeable and loyal employee base.
“The last few weeks have been challenging for employees, customers and suppliers alike. We hope today’s announcement can put an end to this period of disruption and uncertainty. We look-forward to working with our new colleagues and other stakeholders to bring stability and restore the group’s position as one of the leading and most respected drinks suppliers to the UK hospitality sector.”
Matthew Clark Bibendum
Matthew Clark is the largest independent distributor to the UK on-trade drinks sector. It offers a range of over 4,000 products, including beers, wines, spirits, cider and soft drinks, from more than 300 suppliers. Matthew Clark has a nationwide distribution network of 18 depots.
Bibendum is one of the largest wine, spirits and craft beer distributors and wholesalers to the UK on-trade and off-trade, with a particular focus on wine. It offers a range of over 4,000 wines, spirits and craft beers sourced from over 400 suppliers from over 20 different countries.
In addition, the Matthew Clark Bibendum business includes Catalyst, the brand representation business, and Peppermint the outdoor events business.
*** Updated at 15.00 GMT to confirm that the acquisition has now been completed in accordance with the terms set out in the initial announcement.