Loading tweets...
Carlsberg, the multinational brewer, has announced that it has entered into an agreement to acquire UK-based soft drink business Britvic for £3.3 billion ($4.2 billion) to expand its bottling operations across Europe.
Britvic is the main partner for PepsiCo in the UK and Ireland with exclusive rights to manufacture, bottle, and sell brands including Pepsi, 7UP, and Lipton. It also owns brands such as Robinsons, Tango, Fruit Shoot, J2O, Aqua Libra .
Commenting on the acquisition, Britvic non-executive chair Ian Durant said: “The proposed transaction creates an enlarged international group that is well-placed to capture the growth opportunities in multiple drinks sectors. […] Carlsberg’s agreement with PepsiCo provides the combined group with a strong platform for continued success”.
Carlsberg Group CEO Jacob Aarup-Andersen added: “With this transaction, we are combining Britvic’s high-quality soft drinks portfolio with Carlsberg’s strong beer portfolio and route-to-market capabilities, creating an enhanced proposition across the UK and other markets in Western Europe. […] We are excited about expanding our global partnership with PepsiCo and believe that the longer-term opportunities will be very beneficial for both companies”.
Carlsberg said that it planned to establish a unified beverage company in the UK named Carlsberg Britvic.
The acquisition is subject to regulatory approvals and is expected to close in the fourth quarter of 2024.
Source: Carlsberg / The Spirit Business
