Statement Re Vermont Hard Cider Company to Resu...

About this update from C&c Group Plc

[{"type":"text","content":"\n \n \n Statement Re Vermont Hard Cider Company to Resume Sales and Marketing of \n C&C Cider Portfolio in the US\n \n \n\n \n C&C Group PLC\n \n \n\n \n \n \n 20 February 2018\n \n \n Vermont Hard Cider Company to resume sales and marketing of C&C cider \n portfolio in the United States (US)\n \n \n CCR.I CCR.L\n \n \n Dublin, London | C&C Group plc (“C&C” or the “Group”) announces \n that from 1st April 2018, its US wholly owned subsidiary, \n Vermont Hard Cider Company, LLC (“VTHCC”), will resume full \n responsibility for the sales and marketing of the Group’s portfolio of \n cider brands in the US including Woodchuck, Wyders and Magners. By \n mutual agreement the Group will terminate its current arrangements with \n Pabst Brewing Company (“Pabst”) as of that date.\n \n \n Both parties recognise that current market dynamics require a different \n approach that concentrates on VTHCC’s core markets. The transition will \n be effected by selected sales and marketing personnel returning from \n Pabst, supplemented by a small number of external hires. Changes to the \n distributor network are expected to be limited. C&C’s partnership with \n Pabst in the UK will continue.\n \n \n In FY2017, C&C’s US business constituted c.4% of Group volumes and less \n than 1% of operating profits. The Group does not anticipate any material \n transitional costs or change to its financial performance, prospects or \n carrying values in the US arising out of these new arrangements.\n \n \n C&C will provide its usual period end trading update for the Group as a \n whole in early March.\n \n \n -ENDS-\n \n \n Contacts\n \n \n C&C Group plcStephen Glancey, Chief ExecutiveJonathan \n Solesbury, Chief Financial OfficerJoe Thompson, Investor RelationsTel: \n + 44 7980 844 580\n \n \n Investors, Analysts & Irish MediaMark Kenny/Jonathan \n NeilanFTI ConsultingTel: +353 1 765 0886Email:[email protected]\n \n \n UK & International MediaTim RobertsonNovella \n CommunicationsTel: +44 203 151 7008Email:[email protected]\n \n \n \n View source version on businesswire.com: http://www.businesswire.com/news/home/20180219005555/en/\n ","length":3219,"tagName":"div"}]

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