The businesses will be integrated into C&C’s Matthew Clark Bibendum (MCB) division following completion, which is expected in early October.
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The deal will see C&C take on customer and supplier relationships, agreements, intellectual property, a leased depot and certain assets including vehicles and stock.
MCB will also enter into a long-term business partnership linked to Asahi brands in the UK.
The agreement also includes the transfer of supply arrangements for the Fuller, Smith & Turner on-trade estate.
Customer transfer
Following completion, C&C said a structured customer transfer programme would take place, with customers moved across to MCB’s operational, commercial and supply chain infrastructure.
C&C Group chief executive Roger White said: “This move represents an attractive opportunity to provide a significant number of new customers with MCB’s market-leading service and range proposition while simultaneously delivering immediate scale and efficiency into the group’s operations, in line with our strategy.
“We expect the majority of the customer and supplier transitions to be completed in the coming weeks, and for the acquisition to make a small positive contribution to the overall financial performance of MCB in FY27.”
Asahi UK said existing customer arrangements would continue as normal during the transition, with both businesses focused on maintaining service levels.
As a result of the proposed deal, Asahi UK said direct distribution services currently managed from the Griffin Brewery site in Chiswick would transfer to MCB.
However, Asahi said it retained full ownership and operational control of the Griffin Brewery and had reaffirmed its commitment to the long-term future of brewing at the site, including continued production of London Pride.
Asahi UK managing director Tim Clay said: “This agreement represents an important strategic step for Asahi UK. Following a thorough review of Nectar Imports and the evolving market landscape, we concluded that Matthew Clark Bibendum is the right long-term home for both our Nectar and our existing direct distribution customers.
“We believe this proposed agreement creates the best outcome for our customers and strengthens our route-to-market. Importantly, it allows us to sharpen our focus on what we do best: brewing exceptional beers, building premium brands and investing in future growth.”
The update follows C&C’s acquisition of Innis & Gunn earlier this year, after the group bought the Scottish beer brand and its global intellectual property from administrators for £4.5m.
At the time, C&C said the deal would broaden its branded portfolio and allow the brand to be integrated into its existing production, sales and distribution network.
Trading update
C&C also said trading in the six months to 31 August 2026 had been in line with expectations.
Net revenue was 3% below last year, with branded revenue up 2% and distribution revenue down 4%.
The group said branded growth had been supported by continued momentum across Tennent’s and Bulmers, favourable weather and marketing activity around the World Cup period.
It also said its premium portfolio had grown as distribution increased, with Innis & Gunn making a “particularly strong contribution” since coming under full ownership.
C&C said the decline in distribution revenue was mainly due to the planned exit of some lower-margin customer business, alongside ongoing market decline in outlet numbers and some drinks categories.
The update follows C&C’s full-year results in May, when the group reported a fall in net revenue but said it was moving forward with a “renewed focus” and a more stable platform for growth.
