C&C (LSE:CCR) Group, the drinks distribution and brewing group behind Tennent's and Bulmers, has agreed to acquire Asahi UK's wholesale interests for nominal consideration.
The deal covers Nectar Imports and Asahi UK's direct distribution operations, which will be folded into C&C's Matthew Clark Bibendum (MCB) wholesale arm, with MCB also entering a long-term partnership tied to Asahi brands in the UK.
The transaction includes customer and supplier agreements, intellectual property, a leased depot, vehicles and stock, plus a full transfer of supply arrangements to the Fuller, Smith & Turner on-trade estate; completion is due in early October, followed by a phased customer migration onto MCB's infrastructure.
"We expect the majority of the customer and supplier transitions to be completed in the coming weeks, and for the acquisition to make a small positive contribution to the overall financial performance of MCB in FY27," said chief executive Roger White.
Alongside the deal, C&C said trading in the six months to 31 August was in line with expectations, with net revenues down 3% at constant currency as 2% branded growth, driven by Tennent's, Bulmers and Innis & Gunn, was offset by a 4% decline in distribution revenue tied to the planned exit of lower-margin business.
First-half underlying operating profit is expected at €43-44m, with full-year profit still tracking market expectations, though the group flagged volatile conditions ahead of the Christmas trading period.
C&C holds a Capital Markets Day on 24 September, with interim results due 28 October.
