French agricultural co-operative Agrial Group has acquired UK-based drinks producer Aston Manor Cider for an undisclosed figure.
Aston Manor Cider has a number of cider brands present in the UK market such as Kingstone Press, Frosty Jack’s and Chardolini, and the company reported revenues of £134 million in 2017.
According to a statement from Aston Manor Cider, Agrial are “hugely committed” to the development and growth of cider in Europe and in other parts of the world, and the deal provides an opportunity to create a “global force in cider.”
Agrial operates four business units: milk, fresh vegetables and fruit, beverages and meat, and its beverage division is France’s largest producer of cider.
Gordon Johncox, chief executive of Aston Manor Cider said: “Aston Manor have been looking at strategic options and for a partner to continue the growth of the company and in doing so to broaden our offering.
“With Agrial we have found this partner, a strong group with a well-developed portfolio of products and a well-developed international platform. The operating philosophy and values of Agrial are closely aligned to our own and the leadership of Aston Manor are delighted with this agreement and the opportunities it brings.”
Marc Roubaud, managing director of the drinks division of Agrial added: “It was crucial for Agrial to assert our global ambitions in the cider market by gaining a foothold in the world’s largest cider market, close to our heartland and the orchards of our members.
“Aston Manor Cider and Agrial are companies with a similar profile and with shared priorities on both brands and private label and we are excited to combine our strengths to offer all our customers.
James Ellis, chief financial officer at Aston Manor Cider said: “It was extremely important to my family that we found a new owner that mirrors our own values, that will offer strong custodianship of the family business that we have built and nurtured for 35 years.
“This deal, will provide both the company and our staff with continuing opportunities to grow. Agrial is the perfect fit, and we are delighted to build Aston Manor’s future with them.”
© FoodBev Media Ltd 2020
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