C&C to sell spirits and liqueur business for €300m

William Grant & Sons Holdings has entered into a binding agreement for the purchase of C&C’s spirits and liqueur business for €300m, it was announced today.

The purchase will include the C&C portfolio of Irish spirits and liqueur brands, Tullamore Dew, Carolans, Frangelico and Irish Mist.

C&C Group is required to obtain shareholder approval for the disposal.

Subject to that condition, the transaction is due to be completed on June 30 of this year. There are no other conditions for the sale, although consultation will be carried out with the employees within the business and any others who are affected by the transition.

William Grant & Sons CEO Stella David said: "William Grant & Sons has a rich history in Scotch whisky dating back to 1886, and we have been looking to further develop our non-Scotch portfolio.

"Irish whiskey is a natural fit and C&C’s spirits business provides a unique opportunity to acquire a number of significant brands and enter the highly desirable and dynamic Irish whiskey category.

"We shall make significant investment in Ireland and invest in the long-term value growth of the brands, including Tullamore Dew Irish Whiskey which, at 600,000 cases, and given its potential, will become a core global brand in our business."

William Grant & Sons confirmed "its commitment to building a strong business in Ireland and to maintaining and developing current operations across the Irish sites including C&C’s manufacturing site in Clonmel, Co Tipperary".