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Home > Latest News > C&C Group acquire Gaymers

C&C Group acquire Gaymers

The Gaymer Cider Company has become the object of an acquisition by C&C Group who make Magners cider. This acquisition is worth £45 million to Constellation Brands, the current owners of Gaymer Cider Company. They have chosen to sell this business which produces several cider brands in the UK including Olde English, Blackthorn and, of course, Gaymers. C&C group have been successful in raising finance through a bank facility worth £60 million.

The Gaymer Cider Company currently employs 250 staff at their bases in Somerset and Bristol. In the year ending February they had generated sales of £64 million. Meanwhile, in the six months to August of this year, C&C Group who are based in Dublin reported a decrease in their Revenue of ten and a half per cent to 257.5 million Euros. Their operating profits were also down to 57.4 million Euros, a decrease of 13.6 per cent. Their existing cider, Magners, has struggled to compete against Gaymers and other ciders on the market despite a promising start in since 2005. Now this acquisition from Constellation brands is set to triple C&C Group's business valuation, since the UK cider assets of Constellation have a total business valuation of around £43.5 million.

Commenting on their corporate development, Chairman of C&C, Tony O'Brien, said: “The acquisition enhances our product portfolio, creates operating synergies and delivers value for our shareholders.”

Speaking about the acquisition, C&C chief executive John Dunsmore said: “This transaction strengthens out position within the world's largest cider market and broadens the scope of the group's existing cider offering.

The acquisition should be completed shortly after the new year as long as the Office of Fair Trading approve the transaction.


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