Drinks group C&C has agreed to buy Anheuser-Busch InBev's operations in Ireland, Northern Ireland and Scotland in a deal worth £180m.
As a result, C&C will gain control of Scotland's leading lager brand Tennent¹s in a move that will enable the drinks group to promote its Magners cider more broadly in Scotland.
"Tennent's is a celebrated brand and is a compelling strategic fit for the group to develop alongside Magners in Scotland and Northern Ireland. This is a great opportunity to strengthen our route to market and broaden our product portfolio by combining our cider brands with some of the world's leading beer brands," said C&C chief executive John Dunsmore.
Meanwhile, C&C has reported a 5% fall in sales during the five months to 31 July, largely due to the de-stocking of its spirits and liqueurs in its major markets. Sales of its spirits and liqueurs business fell 22% and volumes declined 17%.
The company's cider sales dropped 4% and volumes grew 3%, while Magners' volumes increased 1% in the UK and Bulmers' volumes reached 3% in Ireland.