UK-listed drinks company C&C Group has agreed to acquire Asahi Group Holdings' Nectar Imports wholesale and distribution business in the UK for a nominal consideration. The acquisition, announced on September 11, will integrate the new assets into C&C's Matthew Clark Bibendum (MCB) wholesale operation, aiming to structurally grow the MCB business and bring a significant number of new customers.

For Asahi, the transaction is part of a strategy to focus on its core strengths in brewing, brand building, and consumer engagement. The Japanese brewer will retain full ownership and operational control of its Griffin Brewery. The agreement was announced alongside C&C's trading update for the six months to August 31, which saw net revenue decline by 3% year-on-year, with an expected first-half underlying operating profit of between €43 million and €44 million.