C&C Group Increases Revenue by 187.3% to over €1.5 Billion

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C&C Group Increases Revenue by 187.3% to over €1.5 Billion

C&C Group Increases Revenue by 187.3% to over €1.5 Billion
May 23
12:00 2019
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C&C Group, the UK and Ireland drinks production and distribution business, increased net revenue by 187.3% to €1.575 billion in 12 months ended 28 February 2019, reflecting the acquisition of Matthew Clark and Bibendum from the administrators of Conviviality Group in April 2018. Excluding Matthew Clark and Bibendum, and on a constant currency basis, net revenue was up 3.2% on the prior year at €564.4 million.

C&C Group’s operating profit at €104.5 million rose 21.5% on a constant currency basis, again impacted by the acquisition of Matthew Clark and Bibendum. On a like for like comparative basis, operating profit was up 3.3%.

In aggregate, Matthew Clark and Bibendum form the UK’s leading distribution business to UK licensed on-trade. Matthew Clark is the leading independent composite drinks distributor with unrivalled product breadth across all categories and serving a customer base of over 20,000 outlets from a national network of 12 warehouses. Bibendum is the leading premium wine and spirits specialist serving the UK’s premium bars, restaurants and hotels, particularly in London. They serve the large, attractive and robust UK drinks market valued at €50 billion which grew at 3% by value last year.

Headquartered in Dublin and listed on the Irish and London Stock Exchanges, C&C Group’s portfolio of owned/exclusive brands include: Bulmers, the leading Irish cider brand; Tennent’s, the leading Scottish beer brand; Magners the premium international cider brand; as well as a range of fast-growing, super-premium and craft ciders and beers, such as Heverlee, Menabrea and Orchard Pig. C&C exports its Magners and Tennent’s brands to over 60 countries worldwide.

C&C Group has owned brand and contract manufacturing/packing operations in County Tipperary, Ireland; Glasgow, Scotland; and Vermont, US, where it manufactures Woodchuck, a leading craft cider brand in the United States.

C&C is the leading drinks distributor to the UK and Ireland hospitality sectors. Operating under the Matthew Clark, Bibendum, Tennent’s and C&C Gleeson brands, the group supplies over 35,000 pubs, bars, restaurants and hotels, and is a key route-to-market for major international beverage companies. C&C Group also has an investment in the Admiral Taverns tenanted pub group, which owns over 800 pubs across England and Wales.

Stephen Glancey, chief executive of C&C Group, comments: “FY2019 was a transformational year for the company. Despite strong multi beverage brand led positions in Ireland and Scotland, access to the wider UK on-trade had always been a challenge. The acquisition of Matthew Clark and Bibendum changes this dynamic.

“We are now the largest final mile distributor to the on-trade of alcohol and other drinks in the British Isles with unparallel led access to this profitable market channel. In the longer term this will provide the platform for developing our high premium speciality beers and ciders. It will also make C&C the natural partner for others seeking a gateway through to 60 million high value consumers. As our customers seek channel differentiation and their customers look for choice as well as local authentic product, we are uniquely placed to provide the market solution.”

He elaborates: “At the heart of the business the Bulmers, Magners and Tennent’s brand remain remarkably strong and relevant to today’s consumers. We will continue to invest behind the long term health of these brands and innovate to ensure that we adapt to changing consumer requirements and needs. Minimum unit pricing in Scotland demonstrated the value of strong local brands against price led competitors. We are confident that the introduction of similar regulations in Ireland will be equally relevant to Bulmers.”

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