REG - C&C Group Plc - Response to Shareholder Letter

C&CAnnouncement

24/06/2024 14:00

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RNS Number : 6322T  C&C Group Plc  24 June 2024

 

Response to Shareholder Letter

 

Dublin, London 24 June 2024: The Board of C&C Group plc (the "Company" or
"C&C") notes the open letter published today from Engine Capital LP
("Engine"), a shareholder in the Company.

 

The Board welcomes feedback from all shareholders and has a clear focus on
creating shareholder value.

 

As set out in the recent FY24 year-end results update, the underlying
performance of the business has been in line with expectations, and progress
has been made in returning capital to shareholders.  Operationally, the key
priority is to deliver the substantial actions currently being progressed at
pace throughout the business, driving forward both Brand and Distribution
revenue, improving margin, while returning up to €150m by the end of FY27.

 

ENDS

 

 

Contacts

 

C&C Group plc

Email: investor.relations@candcgroup.ie
(mailto:investor.relations@candcgroup.ie)

 

Investors, Analysts & Media

 

FTI Consulting

Jonathan Neilan / Paddy Berkery

Tel: +353 86 231 4135 / +353 86 6025988

Email: CandCGroup@fticonsulting.com (mailto:CandCGroup@fticonsulting.com)

 

 

About C&C Group plc

 

C&C Group plc is a leading, vertically integrated premium drinks company
which manufactures, markets and distributes branded beer, cider, wine,
spirits, and soft drinks across the UK and Ireland.

 

·      C&C Group's portfolio of owned/exclusive brands include
Bulmers, the leading Irish cider brand and Tennent's, the leading Scottish
beer brand; as well as a range of fast-growing, premium and craft ciders and
beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports
its Magners and Tennent's brands to over 40 countries worldwide.

·      C&C Group has owned brand and contract manufacturing/packing
operations in Co. Tipperary, Ireland and  Glasgow, Scotland.

·      C&C is the No.1 drinks distributor to the UK and Ireland
hospitality sectors. Operating through the Matthew Clark, Bibendum, Tennent's
and Bulmers Ireland brands, the Group has a market leading range, scale and
reach including an intimate understanding of the markets it serves. Together
this provides a key route-to-market for major international beverage
companies.

 

C&C Group plc is an Irish incorporated FTSE 250 company headquartered in
Dublin and is listed on the London Stock Exchange.

 

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