C&C shares rise as drinks firm buys stake in UK pubs

Drinks maker C&C said its move into the pub business in England and Wales can boost its signature cider brand.

Shares in C&C rose around 1% after it said it will acquire a minority stake in Admiral Taverns, a chain that owns 845 pubs, in partnership with Proprium Capital Partners and Admiral management.

C&C has paid £37m (€40m) for 47% of Admiral.