Shares in Irish drinks group C&C surged by almost 9% after the cider and lager maker completed the acquisition of Matthew Clark Bibendum (MCB), the largest independent distributor to the UK pub trade.

C&C shares fell sharply yesterday as the Bulmers, Magners and Tennent’s drinks firm said that the pressures from the drop in the value of sterling and tough pricing conditions in the UK would unlikely ease anytime soon.

C&C Group today announced its results for the year ended February 28, 2015.