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Molson Coors sells UK malting business to Soufflet

Reuters

(This version of the story corrects the description of Soufflet to grain buyer from cooperative in the first paragraph.)

LONDON (Reuters) - Molson Coors UK (TAP.N) has agreed to sell its UK maltings business Shobnall Maltings to French grain buyer Soufflet Group, the two companies said in a joint statement on Monday.

The deal will allow Soufflet to enter the British malt market, the second largest in the European Union, while allowing Molson Coors to focus on its core business of making and selling beer, the statement said.

Terms of the deal were not disclosed.

There are no redundancies planned as part of the sale.

(Reporting by Nigel Hunt; Editing by David Evans and David Holmes)