C&C completes Wallaces Express purchase in Scotland
C&C Group has acquired the remaining 50% stake in Wallaces Express, Scotland’s largest wines and spirits wholesaler employing 296 people, for an undisclosed price.
31 March 2014
The outright acquisition of the business follows C&C Group’s purchase of a half share of the business in March 2013 in a move designed to enhance C&C’s distribution platform to the on-trade across Scotland.
The 139 year-old Wallaces Express will be rebranded ‘Wallaces TCB’ and it will continue to service and support the Scottish independent on-trade through six distribution depots.
“We’ve worked to provide our customers with a one-stop-shop for all their alcoholic and soft drinks needs as part of our strategy of developing a multi-beverage platform in the Scottish drinks market,” commented John Gilligan, Managing Director of Tennent Caledonian Breweries, part of C&C Group, “Our decision to acquire the business outright represents further investment by C&C in Scotland.
“We plan to grow the business further, finding more opportunities for cross-selling to our customers, particularly in wines and spirits and soft drinks.”
The Scottish market now represents nearly 30% of C&C’s profits, believes Goodbody Stockbrokers’ Liam Igoe, who added that along with its Irish businesses, represents the most sustainable long-term market prospects for the company.
Last Spring C&C took over the Gleeson Group wholesale distribution business here.