Carlsberg agrees to purchase Robinsons squash maker Britvic | EUROtoday

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Carlsberg has agreed a £3.3bn deal to purchase Britvic, the corporate which makes drinks reminiscent of Robinsons squash and J20.

The Danish brewer mentioned it will create a single beverage firm known as Carlsberg Britvic to develop its enterprise within the UK and western Europe.

Britvic chairman Ian Durant mentioned the deserves of Carlsberg’s takeover provide have been “compelling”.

The deal will see current Britvic buyers obtain £13.15 a share, after a earlier decrease provide was rejected final month.

Mr Durant mentioned the takeover by Carlsberg would create “an enlarged international group that is well-placed to capture the growth opportunities in multiple drinks sectors”.

Britvic shareholders will vote on the proposed takeover at a basic assembly within the coming months.

The mushy drinks firm posted sturdy outcomes for the most recent quarter, regardless of moist climate throughout Europe, with group revenues rising by 6.3% to £502.9m within the three months to June 30.

Russ Mould, funding director at AJ Bell, mentioned Britvic would add “some diversification” to Carlsberg’s portfolio.

“The Danish outfit is having to react to a world in which younger age groups are less likely to indulge heavily in alcohol,” he mentioned.

Britvic holds an unique licence with US agency PepsiCo to make and promote manufacturers reminiscent of Pepsi, 7up and Lipton iced tea within the UK, and Carlsberg additionally has a bottling cope with the US firm.

Susannah Streeter, head of cash and markets at Hargreaves Lansdown, mentioned the takeover would give Carlsberg the prospect to broaden its international partnership with PepsiCo “and streamline its bottling operations across European markets and now the UK”.

In a separate deal on Monday, Carlsberg additionally agreed to take management of its UK brewing three way partnership with Marston’s, which makes beers together with Hobgoblin and Pedigree.

Marston’s confirmed it can obtain £206m to promote Carlsberg its 40% stake within the enterprise.

“It’s rare to see a business do two deals in one day, but sometimes the stars simply align,” added Mr Mould.

“The concurrent decision to buy Marston’s out of the pair’s brewing joint venture suggests beer remains a big part of Carlsberg’s ongoing story.”

https://www.bbc.com/news/articles/c1weg2vpg9no