Tennent’s owner acquires a 50% equity stake in Wallaces Express

C&C Group plc, the company behind Tennent’s Lager and Magners, has acquired a 50% equity stake in Wallaces of Ayr Limited (trading as Wallaces Express), Scotland’s largest independent wines and spirits wholesaler. Wallaces Express, which turned over £82.8m last year, will continue to be run independently.
Kenny Neison, Group Chief Financial Officer of C&C Group, said, “Today’s announcement is consistent with our ambition of developing a multi-beverage platform in the Scottish drinks market. We have a great relationship with the team at Wallaces Express and we are proud to partner with them. Whilst Wallaces Express will be run independently from our beer business, we will seek opportunities to take advantage of cross-selling for customers, particularly in wines and spirits. This partnership between two great drinks businesses will provide our customers with a one stop shop for all their alcoholic and soft drinks needs.”
Brian Calder, Managing Director of Wallaces Express, said, “This is a major development for Wallaces Express and represents a great opportunity for all our staff and customers. In terms of strategic aims and culture, the two businesses are well aligned and I am confident that both businesses will continue to move forward to the benefit of the Scottish licensed trade.”