Britvic acquires C&C's soft drinks
Britvic has announced it has agreed to acquire the soft drinks and distribution businesses of C&C Group plc (CCSD) for £169.5m in cash.
CCSD owns a number of leading brands in the Republic of Ireland and Northern Ireland including Club, Ballygowan water, Britvic, Cidona, MiWadi, and Energise Sport as well as the rights to Pepsi and 7Up brands through its bottling agreements with PepsiCo.
Paul Moody, CEO of Britvic said: "This is a great opportunity to accelerate earnings growth and provides us with a leading position in the soft drinks markets in both the Republic of Ireland and Northern Ireland. Additionally, there is exciting potential for supply chain synergies, brand and product expansion and innovation.
"This is an important acquisition for Britvic as we seek to grow the business both within the UK and by selective international expansion.
"We are very pleased to welcome an experienced and highly capable CCSD senior management team and their colleagues.
"We believe we have many opportunities to further develop both CCSD's own brands and the Pepsi and 7Up brands in these markets."
