Global soft drinks giant Britvic has decided to acquire Brazilian juice company Bela Ischia for £54.5 million ($66.9 million) in order to expand its presence in Latin America. The deal is set to conclude at the latest by the end of March of this year.
Bela Ischia produces and sells RTD juices, frozen fruit, liquid concentrates and powder concentrates. Its products are principally available in the regions of Rio de Janeiro and Minas Gerais.
In a previous foray into the Brazilian market, Britvic bought the fruit juice firm Ebba and its liquid concentrate brands Maguary and Dafruta in 2015. The firm commented that its latest acquisition would create a broader regional footprint within Brazil by complementing existing Ebba strengths in Sao Paulo and the north east.
Commenting on the deal, Britvic CEO Simon Litherland said: “The proposed acquisition of Bela Ischia represents an exciting opportunity to build on our very strong first year in Brazil with further expansion of our presence in a large and growing soft drinks market. Bela Ischia operates in a category where Britvic has proven capability of generating growth, launching new products and establishing brand leadership and is an excellent complementary fit with our existing business”.
Source: Brtivic (via Proactiveinvestors)