Carlsberg’s acquisition of UK soft drinks major Britvic has now “become effective”, according to a statement yesterday (16 January) from the Robinsons squash maker.
Confirmation of the deal follows approval at a Sanction Court Hearing on 15 January.
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In a statement, J2O soft drinks manufacturer Britvic said: “Britvic and Carlsberg are pleased to announce that, following the delivery of a copy of the Court Order to the Registrar of Companies, the scheme has today become effective in accordance with its terms, and the entire issued ordinary share capital of Britvic is now owned by Carlsberg.”
Britvic’s listing and trading of shares on the London Stock Exchange will be cancelled as of 7:30am GMT on 20 January.
The UK Competition and Markets Authority (CMA) and European Commission had already cleared the £3.3bn ($4bn) acquisition of the soft-drinks group in December.
Commenting on the completion of the deal today, Carlsberg Group CEO Jacob Aarup-Andersen said: “The Britvic acquisition is a pivotal milestone in the history of
Carlsberg as we deepen our commitment to the UK market and write an ambitious next chapter in our growth story. Soft drinks is an attractive category that also brings significant synergies in combination with beer. Britvic is a large-scale, well-established business with a strong portfolio of much-loved own and partnership brands that has consistently delivered strong results.”
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By GlobalDataThe deal, finally backed by Britvic in July, aims to create a single integrated beverage company in the UK called Carlsberg Britvic.
Britvic, the maker of soft drinks such as Robinsons squash and R White’s lemonade, had previously rejected two other bids from Carlsberg.
Announcing the acceptance of its third bid, Carlsberg said it planned to “accelerate commercial and supply chain investments in Britvic, driving the future growth trajectory of the business”.
The deal is expected to create an “enhanced proposition across the UK and markets in Western Europe”.
Britvic’s non-alcoholic beverages are available in the UK, Ireland, France and Brazil, as well as global markets such as the Middle East and Asia.
As part of the deal, the Danish brewer is expected to take over Britvic’s bottling agreement with PepsiCo.
Carlsberg, which brews Tuborg beer, amongst others, distributes PepsiCo drinks in Norway and Switzerland.
Following Britvic’s acceptance of the deal, Carlsberg revealed it had also agreed to acquire Marston’s 40% stake in its UK joint venture, Carlsberg Marston’s Brewing Company (CMBC).
A management team comprising staff from Carlsberg, CMBC, and Britvic is to oversee the new Carlsberg Britvic entity.
In a statement today, Carlsberg said it had appointed former CMBC CEO Paul Davies to head up the new business with immediate effect.
Aarup-Andersen added: “I’d like to congratulate our new senior leaders on their appointments today, and we’re delighted to welcome all our new Britvic colleagues to the Carlsberg Group. We look forward to enhancing our combined business across the UK and other markets, and to strengthening our existing ties with PepsiCo.”
