UK: Following regulatory approval, Scottish & Newcastle's business in the UK (Scottish Courage) has now completed the purchase of the remaining assets of the Northern Club Federation Brewery (NCFB), Scottish & Newcastle announced on July 14. This follows S&N's successful acquisition of the NCFB brewery in Dunston in April 2004 and announcement of the closure of the Tyne Brewery. The NCFB assets were acquired for a total consideration of Ј16.2m payable in cash, and include the brands, wholesaling business, tied estate and distribution assets.
S&N plans to move its Tyne brewing operations to the NCFB site to form a combined business in the North East of England by March 2005. As previously announced, the purchase of the NCFB assets is expected to contribute annualised benefits of around Ј10m from 2005.
A full integration programme will now be put in place as the NCFB business is combined with the existing Scottish Courage business.
16 July, 2004
