C&C gets approval for Competition Authority for Gleeson Group deal

Wednesday 27 February 2013 18.13
C&C gets clearance for €12.4m deal
C&C gets clearance for €12.4m deal

Drinks group C&C said it has received clearance from the Irish Competition Authority to proceed with the acquisition of the Gleeson Group.

The owner of the Bulmers cider brand last year said it had agreed to pay €12.4m for the supplier and distributor of drinks.

The Gleeson Group is the largest distributor of packaged long alcohol drinks to the licensed on-trade in Ireland.

It manufactures Tipperary mineral water, Finches soft drinks and a range of own-label brands for a number of retailers.

When it first announced the deal, C&C said the acquisition was expected to be immediately earnings accretive.