Disposal

Disposal

C&C Group PLC

Disposal of Spirits & Liqueurs Division for €300 million

CCR.I CCR.L

Dublin, London, 30 April, 2010: C&C Group plc (“C&C” or the “Group”), a leading manufacturer, marketer and distributor of branded beverages in Ireland and the UK, today announces that it has agreed to sell its Spirits & Liqueurs division (the “Division”) to William Grant & Sons Holdings Ltd. (“William Grant”) for a cash consideration of €300 million payable on completion.

The disposal is subject to C&C shareholder approval.

Transaction Summary

• Agreement to sell Spirits & Liqueurs division to William Grant for a cash consideration of €300 million
• Proceeds applied towards debt reduction and general corporate purposes
• Pro-forma 2009/10 net debt to EBITDA of 0.6 times* following the disposal

Disposal of Spirits & Liqueurs Division

The Division is a complementary portfolio of premium niche brands - Tullamore Dew, Carolans, Frangelico and Irish Mist - which are exported to over 80 international markets.

For the year ended 28 February 2009, the Division generated revenue of €85.9 million, EBITDA before exceptional items of €16.1 million and EBIT before exceptional items of €15.3 million. For the year ended 28 February 2010, the Division is expected to report EBITDA of approximately €15.3 million* and EBIT of approximately €14.7 million*.

Following the disposal, the Group will retain certain overhead costs which are currently allocated to the Division. This overhead was €1.5 million* in the 2009/10 financial year. The gross assets of the Division, at 28 February 2010, amounted to approximately €109.7 million*.

The Division’s management team and employees will transfer with the business on disposal. The Division employs 57 people in Ireland. William Grant will operate the Division’s packaging facility located at the Group’s manufacturing site in Clonmel, Co. Tipperary. William Grant has confirmed its commitment to building a strong business in Ireland and to maintaining and developing current operations across the Irish sites including C&C’s manufacturing site in Clonmel, Co Tipperary.

Application of Proceeds

The €300 million proceeds will be applied towards debt reduction and general corporate purposes. The disposal will result in a pro-forma net debt to EBITDA of 0.6 times*, based on the Group’s 2009/10 financial performance.

Tony O’Brien, C&C Group Chairman, commented: “We are pleased to announce our agreement to sell our Spirits & Liqueurs business to realise significant value for the Group. The Division comprises a portfolio of unique brands carefully developed over many years. The agreement to sell to William Grant was not an easy one but is, we believe, in the best interests of all shareholders.”

Stephen Glancey, C&C Group COO, added: “While the Division represents a comparatively small component of C&C’s overall earnings, the consideration reflects the quality of its brand portfolio and its strong market positions. The Group intends to reduce debt and invest to support the continued development of a cider-led long alcohol drinks portfolio.”

He concluded: “While the Spirits & Liqueurs Division has been a successful component of the Group for several decades, we believe that William Grant is best placed to grow and develop this business for the long-term. William Grant provides strong heritage and a complementary portfolio of world renowned brands which includes Glenfiddich Single Malt Scotch Whisky and Hendrick’s Gin.”

Stella David, Chief Executive Officer, William Grant, commented: “William Grant has a rich history in Scotch whisky dating back to 1886, and we have been looking to further develop our non Scotch portfolio. Irish whiskey is a natural fit and the C&C spirits business provides a unique opportunity to acquire a number of significant brands, enter the highly desirable and dynamic Irish whiskey category and invest in and grow the value of these brands over the long-term.”

The sale is subject to C&C shareholder approval. A circular will be sent to C&C Group shareholders in due course. C&C Group was advised on this Transaction by Rothschild.

C&C will announce results for the 12 months ended 28 February, 2010 on 25 May, 2010.

*Unaudited company estimates

ENDS

About C&C Group plc

C&C Group plc is a leading manufacturer, marketer and distributor of branded beverages in Ireland and the UK. C&C manufactures the leading Irish cider brand, Bulmers, and the premium international cider brand, Magners, for export to the United Kingdom, the United States and Continental Europe. C&C recently acquired the Tennent's beer brand which is primarily sold in Scotland and Northern Ireland and The Gaymer Cider Company which produces a range of branded and own label cider for the on and off-trade in the UK.

C&C also exports spirits and liqueurs, including the premium Irish whiskey brand, Tullamore Dew, to over 80 international markets. The company also distributes a number of beer brands in the Scottish, Irish and Northern Irish markets and niche spirits and liqueur brands across a number of international markets.

About William Grant & Sons

William Grant & Sons is an independent family-owned distiller headquartered in the United Kingdom and founded by William Grant in 1886. Today, the luxury spirits company is run by the fifth generation of his family and distils some of the world's leading brands of Scotch whisky, including the world's favourite single malt Glenfiddich^®, The Balvenie^® range of handcrafted single malts and the world’s fourth largest blended Scotch Grant’s^® as well as other iconic spirits brands such as Hendrick’s^® Gin, Sailor Jerry^® Spiced Rum, and the award-winning Milagro^® Tequila.

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