Wm Grant aquires Tullamore Dew
Premium spirits business and independent family distillers, William Grant & Sons Holdings Ltd has announced that it has entered into a binding agreement for the purchase of the shares and assets of C&C Group plc's spirits and liqueur business for â‚¬300m. 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, we expect the transaction to be completed on 30 June 2010. 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.
Stella David, Chief Executive Officer of William Grant & Sons 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," she added.