May 2010

C&C Group – Sale of spirits business

C&C has agreed to sell its Spirits and Liqueur division to William Grant & Sons Holdings Ltd for €300m in cash. The disposal will reduce C&C’s net debt and finance continued development of the cider-led long alcoholic drinks portfolio. For William Grant, the acquisition expands its non-scotch brand portfolio, including a significant entry into Irish whiskey.

Contacts: Rob Ballantyne, Shan Willenbrock and Sophie Leigh-Pemberton