Drinks company C&C Group has announced a new long term partnership deal with Pabst Brewing Company for the sale and distribution of C&C Group's cider brands within the US.
Under the terms of the deal, the US brewer will have the exclusive license to distribute, market and sell all of C&C's cider brands in the US.
These include premium craft cider brands Woodchuck, Gumption, Wyder's and Hornsby's.
The deal also includes all of C&C's imported cider brands in the US, including Magners and Blackthorn.
It will take effect from next March.
"PBC is a leading player in the US market and the strength of their portfolio and market access will help us strengthen our position in the US cider category," said Stephen Glancey, C&C Group's chief executive.
Mr Glancey said the company expects cider's share of the beer market to grow by double digits and to reach 3% over the next five to seven years.
C&C will retain full ownership of its US cider brands and related assets, including the cidery in Vermont, America's largest facility dedicated to cider production. It will also keep the distribution rights for the US cider brands in all markets outside the US.
But under the terms of the agreement, PBC has a long term option to acquire C&C Group's US Cider Brands and related assets, subject to any regulatory approvals.
The company said that consideration will be determined at the time of any exercise of the option.
C&C shares were higher in Dublin trade today.
