M&As this week: Linfox, C&C Group
Linfox has gained full ownership of BevChain, a joint venture (JV) that the company originally established with Lion.
Linfox has acquired lion's 50% stake. The acquisition marks Linfox’s entry into the alcoholic and non-alcoholic beverages segment.
Based in Australia, Linfox is a logistics solution provider. Lion intends to focus on its core beer business through the divestment.
C&C Group has reached an agreement to acquire Admiral Taverns (Admiral) from Cerberus Capital Management (Cerberus) and its affiliates.
C&C Group is a JV comprising Proprium Capital Partners and Admiral Taverns Management.
Based in the UK, Admiral Taverns is a pub business that owns and operates 845 wet-led pubs.
C&C Group will pay £37m ($48.25m) towards the acquisition, which represents 47% of the target company’s issued capital, while the remaining will be paid by the other JV partners.