Bulmers manufacturer C&C, with the support of AB InBev, has completed the acquisition of the entire issued share capital of Matthew Clark (Holdings) Limited and Bibendum PLB (Topco) Limited and their subsidiary businesses Catalyst, Peppermint, Elastic and Walker & Wodehouse (together “Matthew Clark Bibendum”).
Matthew Clark Bibendum is the largest independent distributor to the UK on-trade drinks sector and will be run as a separate business. C&C management believe the combination with C&C will:
- create the leading independent route-to-market network across the British Isles, alongside C&C’s existing drinks wholesaling businesses in the UK and Ireland;
- provide direct access to an incremental c.23,000 pre-dominantly on-trade customers across the UK comprising leading hotels, restaurants, pubs, clubs, and bars;
- enhance access for C&C’s cider and super-premium brands across the on and off-trade in the UK;
- strengthen the combined group’s procurement, supply and distribution capabilities for third party wines, spirits, beer and soft drinks;
- enhance access in the premium trade sectors, in particular London and the South East, through Bibendum’s expertise in wine;
- provide significant revenue opportunities and other business benefits;
- facilitate significant earnings accretion and attractive returns on capital in the first full financial year following completion; and
- strengthen relationships with and commitment from all stakeholders including key suppliers.
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C&C CEO Stephen Glancey commented, "We know the Matthew Clark and Bibendum businesses very well. They are great businesses with unparalleled on-trade market access, a wide range of supplier relationships and supported by a knowledgeable and loyal employee base...We look-forward to working with our new colleagues and other stakeholders to bring stability and restore the group’s position as one of the leading and most respected drinks suppliers to the UK hospitality sector."