Magners Cider owner, Ireland’s C&C, has acquired the Tennent’s lager brand from Anheuser-Busch InBev as part of a deal worth €205m.
C&C will buy the Irish, Northern Irish and Scottish businesses from AB InBev, a portfolio that includes Tennent’s and the Wellpark Brewery in Glasgow, originally founded in 1740 by brothers Hugh and Robert Tennent.
Tennent’s is Scotland’s leading lager brand and has a 60% local market share. And while this is the main brand, C&C will also secure the distribution rights for global brands such as Stella and Beck's as well as Budweiser in Scotland and Northern Ireland.
C&C said it believes the deal represents a "logical" platform to develop its existing business, with potential to increase the position of its Magners cider brand outside its core UK market. It added that it is "both strategically and financially attractive".
"Tennent's is a celebrated brand and is a compelling strategic fit for the group to develop alongside Magners in Scotland and Northern Ireland," said C&C group chief executive, John Dunsmore. "This a great opportunity to strengthen our route to market and broaden our product portfolio by combining our cider brands with some of the world's leading beer brands."
Source: RTE business
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