Magners cider owner C&C Group has bought Innis & Gunn in a deal that will save the Scottish beer brand from bankruptcy.
The transaction, announced late on Friday (6 January), consists of C&C paying GBP4.5m (US$6m) for the Innis & Gunn brand and “associated global intellectual property”. The agreement is with FTI Consulting, which had been appointed as Innis & Gunn’s administrator last week.
Founded by Dougal Sharp in 2003, the craft brewer welcomed C&C as a minority investor and “brewing partner” in 2021. In a statement reported by local news platform The Press & Journal, Sharp said: “Today is a very difficult day, first and foremost for the brilliant people who have worked so hard to build Innis & Gunn over the past 23 years. I’m immensely proud of everything our team achieved together, creating a distinctive Scottish beer brand enjoyed by customers at home and around the world.
“I’m deeply sorry to everyone affected – particularly my colleagues who have lost their jobs and the shareholders who believed in what we were building. It’s been a bruising process for everyone.”
C&C CEO Roger White added: “We have worked with Innis & Gunn for many years and whilst it’s under difficult circumstances, we are delighted to bring the brand fully into our portfolio. This is a compelling and highly synergistic opportunity to save a well-loved brand for which we currently brew most of the product.
“Our existing brewing and route-to-market platform allows us to integrate the brand effectively and quickly, supporting the ongoing supply of products to customers and consumers.”
Also last week, Scottish peer BrewDog was acquired, also in a pre-pack administration transaction, by Tilray Brands for a markedly reduced price.
