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Carlsberg to buy Britvic for £3.3bn

  • Restaurant
  • 8 July 2024
  • 2 minute read
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This article was written by Restaurant Online Magazine. Click here to read the original article

Following two failed bids, the Britvic board accepted the improved offer from Carlsberg. Under the terms of the deal, Carlsberg has agreed to pay 1,290p in cash for each Britvic share and pay Britvic shareholders a special dividend of 25p.

On completion of the deal, which is expected in the fourth quarter of this year, the brewer says it intends to create a single integrated beverage company in the UK named Carlsberg Britvic.

“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,” says Carlsberg CEO Jacob Aarup-Andersen. said:

“The proposed transaction is attractive for shareholders of Carlsberg, supporting our growth ambitions, being immediately earnings accretive and value-accretive in year three.

“We are committed to accelerating commercial and supply chain investments in Britvic, and we are confident that Carlsberg Britvic will become the preferred multi- beverage supplier to customers in the UK with a comprehensive portfolio of market-leading brands.”

The deal includes Britvic brands such as Fruit Shoot, J2O, Pepsi, and The London Essence Company.

“The proposed transaction creates an enlarged international group that is well-placed to capture the growth opportunities in multiple drinks sectors,” says Ian Durant, non-executive chair at Britvic.

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“Crucially, to remain competitive at a time when the market is being shaped by the trend of increasing consolidation among bottling partners, Carlsberg’s agreement with PepsiCo provides the combined group with a strong platform for continued success.

In a separate deal Carlsberg, which is the UK’s fourth-largest brewer, has taken control of joint venture with UK group Marston’s. The pub company has sold its 40% share in the venture to Carlsberg for £206m.

Please click here to access the full original article.

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