THE DIRECTOR of strategy and development at drinks group C&C, James Muldowney, has resigned in a further sign the company behind Bulmers and Magners remains exclusively committed to growing its cider sales.
Mr Muldowney, who joined C&C in 2000, was responsible for merger and acquisitions (M&A) at the group and oversaw disposals such as the sale of the Tayto snack food business to Largo Foods and a number of acquisitions by C&C.
C&C did not comment on the resignation of Mr Muldowney yesterday, but his departure from the group is thought to reflect the expectation that M&A activity there will be limited in the future.
Since it sold Ballygowan water and the Club soft drinks brands to Britvic in May 2007, C&C has become predominantly focused on its Bulmers and Magners cider brands, although it retains a spirits and liqueurs division and a wine distribution business.
Mr Muldowney, who worked for General Electric and McKinsey in the US before joining C&C, is understood to be pursuing M&A roles elsewhere. He will step down from his position at C&C after its agm on July 11th.
Following the announcement last December of the group's restructuring process, chief executive Maurice Pratt indicated that its primary focus would be to extend the distribution channels for Magners in Britain.
It is also testing the premium cider brand in Barcelona and Munich, and has added two senior management positions to oversee the cider brand's growth.
Magners had a successful launch in Britain in 2006, but renewed competition in the category and poor weather in 2007 meant the momentum behind the brand evaporated. Cider sale volumes declined by 11 per cent in the year to the end of February 2008, a period when C&C's operating profit before exceptional items fell by 37 per cent to €110 million.
