C&C, the Irish maker and distributor of alcoholic drinks, has sold its spirits and liqueurs brands to William Grant for £300 million.
Among the brands involved are: Tullamore Dew Irish whiskey, Carolans cream liqueur, Frangelico hazelnut liqueur and Irish Mist the whiskey liqueur. They are exported to more than 80 international markets.
The division’s management team and employees will transfer with the business. It employs 57 people in Ireland. William Grant will operate the division’s packaging facility located at the group’s manufacturing site in Clonmel, Co. Tipperary.
William Grant is said to be committed to building a strong business in Ireland and to maintaining and developing current operations across the Irish sites including C&C’s manufacturing site in Clonmel.
Stephen Glancey, C&C group COO, said: “While the Division represents a comparatively small component of C&C’s overall earnings, the consideration reflects the quality of its brand portfolio and its strong market positions. The group intends to reduce debt and invest to support the continued development of a cider-led long alcohol drinks portfolio.”
He concluded: “While the spirits & liqueurs division has been a successful component of the group for several decades, we believe that William Grant is best placed to grow and develop this business for the long-term. William Grant provides strong heritage and a complementary portfolio of world renowned brands.”
Tullamore Dew fits neatly with William Grant's existing international Scotch whisky brands: The Glenfiddich and The Balvenie single malts, Grant's Blended and Monkey Shoulder 'triple malt' blend. Carolans, Frangelico and Irish Mist also provide the company with a strong toehold in the liqueurs sector.