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C&C confirms talks with Spirit Pub Co

By BFN News | 07:26 AM | Friday 24 October, 2014

C&C has confirmed that it has made a preliminary approach over a possible offer for Spirit Pub Company. C&C says an acquisition of Spirit, one of the highest quality pub estates in the UK, would transform the company and enhance long-term shareholder value through: - revenue and cost synergy benefits - a broader range of strategic and operating options for a combined business; a combination of C&C's highly cash generative business with Spirit which C&C believes will provide capital to optimise performance and drive shareholder value - a strengthened route to market for C&C's long alcohol drinks brands in the on-trade across England and Wales matching the recognition it enjoys in its other core markets - a compelling consumer platform for C&C's brands in some of the best locations throughout England & Wales, in particular London; and, access to improved procurement terms for a combined business C&C says there is no certainty that a firm offer will be made nor as to the terms on which any offer might be made. Story provided by

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