Britvic has agreed to a £3.3bn takeover offer from Carlsberg, creating a new enlarged group named Carlsberg Britvic.
This means several soft drinks brands will now come under the Danish brewer’s ownership including Robinsons and Tango, this came after Britvic accepted a deal which comprised £12.90 in cash and a special dividend payment of 25p for each Britvic share.
As well as the Britvic deal, Marston’s has also sold its 40% stake in the Carlsberg Marston’s joint-venture, which includes the production of heritage ales such as Pedigree, to a subsidiary of Carlsberg for around £200m.
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“Carlsberg intends that Carlsberg Britvic shall be led by a management team comprised of individuals from each of Carlsberg, CMBC and Britvic. The enlarged business will have a portfolio of leading brands across the beer and soft drinks categories. Carlsberg envisages that a phased integration will start as soon as practicable after completion of the acquisition and in conjunction with the post-completion review,” said a company statement.
“The combined group will be able to take advantage of the highly synergistic relationship between beer and soft drinks, including within the areas of procurement, production, warehousing and distribution to increase efficiency and better serve customer needs. Carlsberg’s portfolio of soft drinks currently accounts for approximately 16% of total Carlsberg Group volumes and 27% of volumes in Western Europe.”
