C&C unlikely to bid for €330m Glenmorangie

C&C is unlikely to make a play for Scottish whisky maker Glenmorangie which has come on the market with a stg£220m plus (€330m) price tag.

Sources close to C&C indicated yesterday the Irish company will not bid for the Scottish distiller despite the potential synergies and distribution expansion for its Irish whisky brand Tullamore Dew such an acquisition would give C&C.

NCB analyst Paul Meade said: "While this niche specialist whisky maker would make an ideal fit for the C&C Group, a bid is unlikely at this time given C&C's plans to utilise cash to de-leverage."