24th Sep 2015 16:15
LONDON (Alliance News) - Irish cider and beer maker C&C Group PLC has held talks about drinks giant Carlsberg taking over its UK business, the Financial Times reported Thursday.
C&C, which makes Magners cider, is reportedly thought to have held talks with Carlsberg, the world?s fourth-largest brewer by volume, about the potential deal as recently as last month, the FT said.
The discussions between C&C Group and Carlsberg took place over the summer, with advisers working with both companies, according to people familiar with the matter. However, the talks stopped towards the end of August and it is unclear whether they will be restarted, these people said, according to the newspaper.
Dublin-based C&C has been searching for deals that will help it expand outside its main markets of Ireland and Scotland, which account for more than 80% of its profits, according to analysts. The company was rebuffed last year by tavern-chain operator Spirit Pub PLC, which eventually agreed to be acquired by its larger rival Greene King in a GBP774.0 million deal.
Carlsberg has a 14% market share in the UK and operates its own distribution network for a portfolio brands, including the fast-growing cider Somersby.
http://www.ft.com/cms/s/0/93266fdc-629c-11e5-9846-de406ccb37f2.html#axzz3mffY7RBJ
By Joshua Warner; [email protected]; @JoshAlliance
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