Statement Re Vermont Hard Cider Company to Resume Sales and Marketing of C&C Cider Portfolio in the US

DUBLIN--()--

20 February 2018

Vermont Hard Cider Company to resume sales and marketing of C&C cider portfolio in the United States (US)

CCR.I CCR.L

Dublin, London | C&C Group plc (“C&C” or the “Group”) announces that from 1st April 2018, its US wholly owned subsidiary, Vermont Hard Cider Company, LLC (“VTHCC”), will resume full responsibility for the sales and marketing of the Group’s portfolio of cider brands in the US including Woodchuck, Wyders and Magners. By mutual agreement the Group will terminate its current arrangements with Pabst Brewing Company (“Pabst”) as of that date.

Both parties recognise that current market dynamics require a different approach that concentrates on VTHCC’s core markets. The transition will be effected by selected sales and marketing personnel returning from Pabst, supplemented by a small number of external hires. Changes to the distributor network are expected to be limited. C&C’s partnership with Pabst in the UK will continue.

In FY2017, C&C’s US business constituted c.4% of Group volumes and less than 1% of operating profits. The Group does not anticipate any material transitional costs or change to its financial performance, prospects or carrying values in the US arising out of these new arrangements.

C&C will provide its usual period end trading update for the Group as a whole in early March.

-ENDS-

Contacts

C&C Group plc
Stephen Glancey, Chief Executive
Jonathan Solesbury, Chief Financial Officer
Joe Thompson, Investor Relations
Tel: + 44 7980 844 580

Investors, Analysts & Irish Media
Mark Kenny/Jonathan Neilan
FTI Consulting
Tel: +353 1 765 0886
Email: CandCGroup@fticonsulting.com

UK & International Media
Tim Robertson
Novella Communications
Tel: +44 203 151 7008
Email: TimR@novella-comms.com

Short Name: C&C Group Plc
Category Code: STR
Sequence Number: 641697
Time of Receipt (offset from UTC): 20180219T195446+0000

Contacts

C&C Group PLC

Contacts

C&C Group PLC