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C&C and AB InBev to acquire Matthew Clark and Bibendum PLB

Published:  04 April, 2018

Brewing company C&C in partnership with AB InBev are likely to save Matthew Clark and Bibendum PLB.

In a statement released this morning, C&C Group, which makes Magners Cider, announced it was in “advanced discussions to acquire the entire issued share capital" of Matthew Clark and Bibendum PLB and their subsidiary businesses Catalyst, Peppermint, Elastic and Walker & Wodehouse.

The ‘Matthew Clark Bibendum’ proposition being put forward by the comapny, is conditional on administrators being appointed at the ailing wholesale giant, which is expected to occur later today, with a further announcement also due to come within the next hour.

Stephen Glancey, Group CEO at C&C, commented: “We know the Matthew Clark and Bibendum businesses very well. They are great businesses with unparalleled on-trade market access, a wide range of supplier relationships and supported by a knowledgeable and loyal employee base.

“The last few weeks have been challenging for employees, customers and suppliers alike. We hope today’s announcement can put an end to this period of disruption and uncertainty. We look-forward to working with our new colleagues and other stakeholders to bring stability and restore the group’s position as one of the leading and most respected drinks suppliers to the UK hospitality sector.”

This morning, the company said 'Matthew Clark Bibendum' will be run as a separate business under C&C management which will “create the leading independent route-to-market network across the British Isles, alongside C&C’s existing drinks wholesaling businesses in the UK and Ireland.

“Consideration for the shares will be a nominal sum, and C&C will provide sufficient funds to support the on-going working capital and other cash requirements of the business. In addition, AB InBev will provide additional financial support to the transaction. C&C’s investment will be funded from existing C&C facilities.”