SHS takes over cider player Merrydown for $70m
News of the sale of Merrydown, which includes the soft drink Shloer, saw the company’s shares rise by 14%.
The Northern Ireland based SHS Group owns the alcoholic drink WKD and markets Douwe Egberts coffee, Cobra beer and Tropicana fruit juice. Joe Sloan, chairman of SHS said the company was “delighted to be adding Shloer and Merrydown Cider to our portfolio and look forward to continuing the growth that has been achieved in recent years".
"Whilst the Directors remain confident of Merrydown's future prospects they recognise that a larger organisation such as SHS has the resources to grow the brands faster than Merrydown can as an independent company", Andy Nash, Chairman of Merrydown said.
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