C&C Group buys 50% stake in Ayr drinks wholesaler

The company behind Tennent's lager and Magners cider has bought a 50% stake in one of Scotland's largest independent wines and spirits wholesalers, Wallaces Express.

C&C Group said the move was in line with its plan to build a "multi-beverage platform" in the Scottish drinks market.

The company did not disclose how much it paid for the stake.

Wallaces Express will continue to be run independently.

Wallaces was established in Ayr in 1875 before evolving into a drinks wholesaler in the 1980s.

It operates distribution depots in Irvine, Coatbridge, Dumfries, Lanark, Kintore and Inverness.

C&C Group chief financial officer Kenny Neison said: "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."