C&C Group PLC (LSE: CCR) has agreed to acquire Asahi UK’s wholesale businesses for nominal consideration, expanding its Matthew Clark Bibendum operation and adding a significant new customer base.
The deal covers Nectar Imports and Asahi UK’s direct distribution operations, which will be fully integrated into Matthew Clark Bibendum following completion, expected in early October.
C&C will assume customer and supplier relationships, intellectual property, a leased depot, vehicles and stock, while Matthew Clark Bibendum will also enter a long-term partnership associated with Asahi’s UK brands.
The transaction also includes the transfer of supply arrangements for the Fuller, Smith & Turner pub estate.
Chief executive Roger White commented: “This move represents an attractive opportunity to provide a significant number of new customers with MCB market leading service and range proposition whilst simultaneously delivering immediate scale and efficiency into the Group’s operations.”
C&C expects most customer and supplier transfers to be completed in the coming weeks, with the acquisition forecast to make a small positive contribution to Matthew Clark Bibendum’s performance in the year to February 2027.
Separately, C&C reported trading in line with expectations for the six months to August 31.
Group net revenue was 3% lower year-on-year, with branded revenue up 2% and distribution revenue down 4%.
Growth in Tennent’s, Bulmers and Innis & Gunn helped support the branded business, while distribution revenue was affected by the planned exit of lower-margin contracts and continued pressure from falling outlet numbers.
Underlying operating profit for the first half is expected to be between €43 million and €44 million.
