Gleeson Group Sold
Published on Dec 12 2012 2:58 PM in General Industry
Gleeson Group, the Irish company behind brands like Tipperary water and Finches soft drinks, have been bought out by drinks behemoth C&C Group in a deal worth €58 million. Gleeson had an existing...
Gleeson Group, the Irish company behind brands like Tipperary water and Finches soft drinks, have been bought out by drinks behemoth C&C Group in a deal worth €58 million. Gleeson had an existing debt estimated at around €45 million. Under the terms of the deal, C&C will take on responsibility for that debt.With Gleeson the biggest distributor of beer and other long alcoholic drinks in the country, the development will give C&C access to over 10,000 pubs and licensed premises here. Commenting on the deal, C&C CEO Stephen Glancy said that the move would strengthen his company’s operations in the Irish market. “This acquisition has the potential to transform our existing Irish business through the addition of an extensive distribution network and the creation of an attractive, multi-beverage brand platform. The extended portfolio and direct distribution network should create a more resilient trading model that is better suited to dealing with the challenges of both current and future trading environments. It is a model that has the potential to deliver growth through investment, further brand acquisition and new agency agreements.”