C&C still keen on UK despite law change
Published on Nov 20 2014 1:38 PM in Pub/Bar/Nightclub
Cidermaker C&C may have lost out in its pursuit of UK-based Spirit Pub Company, but it still has eyes on growing its presence in the UK market, according to reports.
However, news that British MPs have voted to dilute the power of the big brewpub chains in the UK to force their bar-running tenants to stick to a “beer-tie” may prove problematical for C&C.
Under stock exchange rules rules, C&C had until today to decide if it wanted to further pursue its €1 billion bid to buy the Spirit Pub Company, as it attempted to gain control of it 1,200 pubs across the UK, improving C&C's access to the market.
However, reports have confirmed that Spirit has instead agreed a deal with its rival Greene King.
Despite losing out, C&C is said to still be keen on buying a British pub company after speeding numerous years trying to grow its Magners cider presence in the UK.
The ending of the 'beer-tie' will mean that 13,000 British pubs who are currently in 'beer-tie' agreements will be able to purchase their beer on the open market.