Acquisition of Matthew Clark and Bibendum
C&C announces that with the support of AB InBev, it is in advanced discussions to acquire the entire issued share capital of Matthew Clark (Holdings) Limited and Bibendum PLB (Topco) Limited and their subsidiary businesses Catalyst, Peppermint, Elastic and Walker & Wodehouse (together “Matthew Clark Bibendum”). The proposed acquisition is conditional upon, amongst other things, the appointment of administrators to Conviviality Brands Limited (the seller), which is expected to occur later today. A further announcement will be made later this morning.
Consideration for the shares will be a nominal sum, and C&C will provide sufficient funds to support the ongoing working capital and other cash requirements of the business. In addition, AB InBev will provide additional financial support to the transaction. C&C’s investment will be funded from existing C&C facilities. At completion, Matthew Clark Bibendum will have £102 million of working capital facilities provided by its current lender group, repayable in instalments over the 12 months following completion.Read Full Press Release