The move to acquire the business outright comes exactly a year after C&C bought a 50% stake in the wholesaler.
Wallaces Express will be rebranded Wallaces TCB.
John Gilligan, managing director of Tennent Caledonian Breweries, which is part of C&C Group, said the new business will seek to deliver an “outstanding full portfolio offering” to the independent on-trade and provide “ongoing support” to customers across Scotland.
“Since taking a 50% stake in Wallaces Express a year ago, we have worked to provide our customers with a one stop shop for all their alcoholic and soft drinks needs as part of our strategy of developing a multi-beverage platform in the Scottish drinks market,” said Gilligan.
“Our decision to acquire the business outright represents further investment by C&C in Scotland and is the latest stage of our plans to put customers at the heart of our support for the independent on-trade.
“We plan to grow the business further, finding more opportunities for cross-selling to our customers, particularly in wines and spirits and soft drinks.”
Wallaces Express MD Brian Calder said: “Having entered into the partnership with C&C Group last year, I am pleased for our staff and customers that we have been able to take this to the next stage.
“We look forward to continuing to provide an unbeatable service to our customers as part of C&C Group.”