C&C Group Plc Statement Re Vermont Hard Cider Company to Resume Sales and Marketing of C&C Cider Portfolio in the US
February 20 2018 - 2:00AM
UK Regulatory
TIDMCCR
20 February 2018
Vermont Hard Cider Company to resume sales and marketing of
C&C cider portfolio in the United States (US)
CCR.I CCR.L
Dublin, London | C&C Group plc ("C&C" or the "Group")
announces that from 1st April 2018, its US wholly owned subsidiary,
Vermont Hard Cider Company, LLC ("VTHCC"), will resume full
responsibility for the sales and marketing of the Group's portfolio
of cider brands in the US including Woodchuck, Wyders and Magners.
By mutual agreement the Group will terminate its current
arrangements with Pabst Brewing Company ("Pabst") as of that
date.
Both parties recognise that current market dynamics require a
different approach that concentrates on VTHCC's core markets. The
transition will be effected by selected sales and marketing
personnel returning from Pabst, supplemented by a small number of
external hires. Changes to the distributor network are expected to
be limited. C&C's partnership with Pabst in the UK will
continue.
In FY2017, C&C's US business constituted c.4% of Group
volumes and less than 1% of operating profits. The Group does not
anticipate any material transitional costs or change to its
financial performance, prospects or carrying values in the US
arising out of these new arrangements.
C&C will provide its usual period end trading update for the
Group as a whole in early March.
-ENDS-
Contacts
C&C Group plcStephen Glancey, Chief ExecutiveJonathan
Solesbury, Chief Financial OfficerJoe Thompson, Investor
RelationsTel: + 44 7980 844 580
Investors, Analysts & Irish MediaMark Kenny/Jonathan
NeilanFTI ConsultingTel: +353 1 765 0886Email:
CandCGroup@fticonsulting.com
UK & International MediaTim RobertsonNovella
CommunicationsTel: +44 203 151 7008Email:
TimR@novella-comms.com
View source version on businesswire.com:
http://www.businesswire.com/news/home/20180219005555/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 20, 2018 02:00 ET (07:00 GMT)
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