C&C Group Acquires a 50% Equity Stake in Wallaces Express
25 Mar 2013 --- C&C Group plc has acquired a 50% equity stake in Wallaces of Ayr Limited (trading as Wallaces Express) Scotland’s largest wines and spirits wholesaler, in a move designed to offer enhanced service and increased value for the on-trade across Scotland.
Although Wallaces Express will continue to be run independently, it will work along side C&C Group to deliver an outstanding full portfolio offering to the Scottish on-trade and continue to support their customers at these challenging times.
Kenny Neison, Group Chief Financial Officer of C&C Group, said:
"Today's announcement is consistent with our ambition of developing a multi-beverage platform in the Scottish drinks market. We have a great relationship with the team at Wallaces Express and we are proud to partner with them. Although Wallaces Express will be run independently from our beer business, we will seek opportunities to take advantage of cross-selling for customers, particularly in wines and spirits. This partnership between two great drinks businesses will provide our customers with a one
stop shop for all their alcoholic and soft drinks needs.”
Brian Calder, Managing Director of Wallaces Express, said:
“This is a major development for Wallaces Express and represents a great opportunity for all our staff and customers. In terms of strategic aims and culture, the two businesses are well aligned and I am confident that both businesses will continue to move forward to the benefit of the Scottish licensed trade”
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