C&C Group bids to buy Matthew Clark and Bibendum
C&C Group PLC has entered a bid to acquire Matthew Clark (Holdings) Ltd and Bibendum PLB. The move is supported by AB InBev, who will provide financial support for the acquisition, and is dependent upon Conviviality going into administration. That move is expected to occur imminently.
In a statement the C&C, which also owns Tennents, said it was in “advance discussions” to buy the distribution companies.
The move comes following the news last week that Conviviality had failed to secure additional funding of £125m that was need to pay HMRC, suppliers and provide working capital.
The deal could complete today. In Scotland Matthew Clark employs 140 people.