C&C Group to float in Dublin and London

Food and drinks giant C&C Group is to float on the Dublin and London stock exchanges this summer, it was announced today.

C&C Group, whose brands include Ballygowan, Club Orange and Tayto crisps, is expected to be valued at up to €900m.

The Dublin-based group scrapped plans to float two years ago due to falling stock markets and said the latest flotation would depend on market conditions.

London-based private equity group BC Partners, which currently owns around 90% of the company, is still expected to retain a sizeable stake after the listing.

As well as its own snacks and drinks, the group also distributes international brands such as 7-Up and Pepsi and a range of wines and spirits within Ireland.

C&C owns the Bulmers cider brand in Ireland and sells the product as Magners abroad.

The group generates 72% of its revenues from operations in Ireland, 18% in the UK and 10% in the rest of the world.

C&C was formerly known as Cantrell & Cochrane and was established in 1968.

It was acquired by sprits giant Allied Domecq in 1998 and bought by BC Partners, co-investors and management in 1999.

The company, which employs around 2,000 staff, has its main manufacturing and distribution sites in Cork, Dublin, Clonmel in Co Tipperary and Newcastle West in Co Limerick.

Its other brands include Tullamore Dew Irish whiskey, Carolans Irish Cream and Irish Mist liqueur.

During the year to February 29 it generated revenues of €781.7m and underlying profits of €147m.