Carlsberg has announced that it plans to create an integrated beer and soft drinks company in the UK.
The new Carlsberg Britvic will strengthen the Danish group's partnership with PepsiCo, which has bottling agreements with both Carlsberg and Britvic.
Carlsberg will pay more. Britvic says yes
Carlsberg raised its offer for Britvic to 1,315 pence per share. The British company rejected an earlier offer of 1,250 pence per share.
In a statement, Carlsberg said: “Carlsberg recognizes that Britvic is one of the leading soft drinks producers in the UK, Western Europe and Brazil. Carlsberg believes that the acquisition represents a very attractive opportunity for the company and supports its overall growth ambitions."
“The acquisition will strengthen the company's presence in Western Europe, an important region offering stable and attractive growth prospects. "Carlsberg's intention is to accelerate commercial and supply chain investment in Britvic, guiding the company's future growth trajectory."
Carlsberg believes that integration with Britvic can deliver annual savings and efficiency improvements of approximately £100 million (approximately £75 million after tax). The company expects these savings to be realized within five years of completion of the acquisition.
Carlsberg also submitted a buyout offer to Marston's group. Marston's said it would sell its 40% stake in brewing joint venture Carlsberg Marston's Limited for £206 million (€243.7 million) in cash.
Carlsberg plans to expand into categories including cider, lemonade, hard seltzers and ready-to-drink cocktails as it sees growing consumer interest in beverages outside the traditional beer category.
