Drinks and snacks group C&C today announced its intention to seek a listing on the Irish and London Stock Exchange by way of an initial public offering (IPO) to take place in early summer of 2004.
The Offering is expected to comprise a global institutional offer to institutional investors in Ireland, the UK and internationally.
Citigroup and Goldman Sachs International are acting as joint global co-ordinators and bookrunners and IBI Corporate Finance and Davy are acting as joint lead managers of the offering. Deutsche Bank is acting as co-lead manager.
Commenting on the proposed offering, CEO Maurice Pratt said: 'The company has an impressive record of growth and cash generation, and we are excited by the opportunities afforded by public company status.'
C&C Group is one of the largest manufacturers, marketers, distributors and wholesalers of branded beverages in Ireland and Northern Ireland and savoury snacks in Ireland.
C&C was bought by private equity firm BC Partners from spirits group Allied Domecq in the late 1990s. A previous initial public offering in 2002 was shelved due to poor market conditions
The group owns several of Ireland's most recognised beverage and savoury snacks brands, including Bulmers cider, Ballygowan water, Club Orange and Tayto crisps.
It also distributes several leading international brands in Ireland, including 7Up and Pepsi, as well as a wide-ranging portfolio of wines and spirits.
