The owner of Magners, Bulmers and Tennents brands, C&C Group has confirmed its acquisition of Conviviality's drinks supplier brands, Matthew Clark and Bibendum, saving over 2,000 jobs.
Troubled wholesaler Conviviality announced its intention to call in administrators last week having failed to raise £125m to save the business.
British and Irish drinks producer and distributor, C&C posted the following on the London Stock Exchange: “Further to the announcement that C&C was in advanced discussions to acquire Matthew Clark (Holdings) Limited and Bibendum PLB (Topco) Limited (Matthew Clark Bibendum), C&C confirms that the acquisition has now completed in accordance with the terms set out in this morning’s announcement. Accordingly, C&C now owns 100% of the issued share capital of Matthew Clark Bibendum.”
C&C Group chief executive Stephen Glancey stated, 'We know the Matthew Clark and Bibendum businesses very well. The last few weeks have been challenging for employees, customers and suppliers alike. We hope the announcement can put an end to this period of disruption and uncertainty.'