London | Reuters — Molson Coors UK has agreed to sell its U.K. maltings business Shobnall Maltings to French grain buyer Soufflet Group, the two companies said in a joint statement 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 for Reuters by Nigel Hunt. A previous version of this article incorrectly identified Soufflet Group as a French co-operative.