C&C Group reports strong Tennent’s, Innis & Gunn sales and seals Asahi UK wholesale deal

C&C Group, led by CEO Roger White, reported that sales of its core Tennent’s brand and the premium Innis & Gunn label remain robust, supporting an operating profit forecast of €43-44 million for the half-year to August. Branded revenue grew 2% while distribution revenue declined 4%, leaving overall net revenues 3% below the prior year. In March, C&C bought the intellectual property of Innis & Gunn for £4.5 million, coinciding with the closure of the Perth brewery and three taprooms.

The group has now agreed to acquire Asahi UK's wholesale businesses for a nominal consideration, expanding its Matthew Clark Bibendum operation and gaining a sizable new customer base, including supply contracts with Fuller, Smith & Turner. The acquisition is slated to close in early October, with a structured customer transfer programme to follow, and interim results are due on October 28.