C&C Group Plc Statement Re Vermont Hard Cider Company to Resume Sales and Marketing of C&C Cider Portfolio in the US

 
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: [phone]Email: [e-mail]

UK & International MediaTim RobertsonNovella CommunicationsTel: [phone]Email: [e-mail]

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(END) Dow Jones Newswires

February 20, 2018 02:00 ET (07:00 GMT)