Acquisition and Trading Update

C&C Group plc announces today that it has reached an agreement with Asahi UK to acquire all of its UK wholesale interests for nominal consideration, with the transaction perimeter comprising Nectar Imports Ltd and the direct distribution operations of Asahi UK. Post completion the businesses will be fully integrated into the Group's Matthew Clark Bibendum (MCB) operations. In addition, MCB will enter into a long-term business partnership associated with Asahi brands in the UK.

The Group will assume all customer and supplier relationships and agreements alongside the intellectual property, a leased depot, and certain assets including vehicles and stock.

The acquisition represents an attractive opportunity to structurally grow the MCB business whilst providing the acquired customer base with immediate access to the service and extensive range of the MCB proposition. The agreement also includes the full transfer of supply arrangements to the prestigious Fuller, Smith & Turner on-trade estate.

Terms have been agreed, with completion due in early October, after which a structured programme of customer transfer will take place, migrating customers across to MCB's operational, commercial and supply chain infrastructure.

Roger White, Chief Executive Officer of C&C Group, commented:

"This move represents an attractive opportunity to provide a significant number of new customers with MCB market leading service and range proposition whilst simultaneously delivering immediate scale and efficiency into the Group's operations, in line with our strategy. We expect the majority of the customer and supplier transitions to be completed in the coming weeks, and for the acquisition to make a small positive contribution to the overall financial performance of MCB in FY27."

Trading Update

Trading in the six months to 31 August 2026 has been in line with expectations. Net Revenues were 3%* below last year, reflecting growth of 2%* in Branded revenues offset by decline of 4%* in Distribution revenues.

Branded revenue growth was supported by continued momentum in our core Tennent's and Bulmers brands, favourable weather and targeted marketing activity around the World Cup period. In addition, our Premium portfolio has grown as we build distribution, and we saw a particularly strong contribution from the Innis & Gunn brand now under the Group's full ownership.

In Distribution, the revenue decline was principally driven by the planned exit of some lower margin customer business, combined with the continued impact of on-going market decline in outlet numbers and certain drinks categories.

Underlying operating profit for the first half is anticipated to be in the range of €43-44m, in line with our expectations. We remain on track to achieve full year operating profit in line with market expectations, albeit noting that the market conditions remain volatile and we have the important Christmas trading period ahead of us.

We look forward to sharing more about the Group's strategy at the Capital Markets Day on 24 September 2026. The Group's interim results will be announced on 28 October 2026.

* Constant currency basis

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