The company told investors that it expects its international division to be responsible for 20 per cent of its overall business by 2016 with it taking up 15 per cent by the end of its 2014 financial year.
The company revealed its plans at an investors’ day in England recently. It’s currently in the process of acquiring the Gleeson Group here for €17 million and the Vermont Hard Cider Company in the US for €233 million but stressed that these predictions for international growth excluded both these companies.
While C&C’s products are sold in 43 countries today, its Financial Director Mark Boulos explained, “The US is incredibly important to us and we are looking to achieve market leadership nationwide”.
The US consumer views cider as an extension of craft beer, he added, for “someone who’s looking to try something new”.
The potential for cider in the US was also emphasised by the Vermont Hard Cider company’s President Bret Williams who stated that cider as a category is “on the brink of an explosion” in the US.
Competition in the UK cider market remains stiff with some 43 cider brands currently listed in the average supermarket. In 2005 this figure stood at 19.