Allied Domecq

Friday 08 January 1999 19:02 EST

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Allied Domecq

ALLIED DOMECQ is to sell off its Irish drinks business in a multi-million management buyout deal to be paid in euros. Cantrell & Cochrane, which makes and distributes Bulmers cider and Ballygowan water, is being sold to venture capital business BC Partners for 766m euros (pounds 542m). The sale comes just seven months after Allied secured complete ownership of the Irish company by buying out Diageo's 49 per cent stake, which analysts then valued at around pounds 230m.

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