Grant closes €300m C&C deal

Scottish distiller William Grant & Sons has completed its acquisition of C&C's spirits and liqueurs business for €300 million.

The deal, which includes Tullamore Dew Irish Whiskey and Irish Mist, was completed today after being approved by shareholders last month.

The business will now operate as William Grant & Sons Irish Brands, and will be based in Dublin and Clonmel, Co Tipperary. It will have 63 new employees, including 42 in Clonmel and 15 in Dublin.

William Grant & Sons already owns Glenfiddich, Grant’s Scotch Whisky and the Balvenie Single Malt Scotch Whiskies. Tullamore Dew will become its sixth core brand.

Chief executive of William Grant Stella David committed to significant investment in the Irish operations, which includes a packaging facility based at C&C’s manufacturing base in Clonmel.

The sale of the division is the third major deal that has been completed by C&C in the past year. The drinks group bought the Tennent’s business in Scotland in September last year, and English cider producer, Gaymers, for a total of €268.6 million, which was completed in January.

C&C said it will use the €300 million cash consideration to reduce its debt and to invest in the development of its cider-led alcohol drinks portfolio.