Danish brewer Carlsberg has made a 3.11 billion pound (US$3.94 billion) offer to buy Britvic, an offer the British soft drinks maker has rejected.
Reuters reports Carlsberg is considering its options and said on Monday that PepsiCo agreed to waive a clause in its bottling deal with Britvic, in a move that could pave the way for the Danish firm to raise its bid for Britvic.
Britvic makes a range of beverages, from carbonated soft drinks to juices, in Britain, Brazil and some international markets. It uses its own brands and a number of licensed ones, including Pepsi, Gatorade, 7-Up, RockStar and Lipton.
Faced with Carlsberg’s pursuit, the British firm suspended its own $95 million share buyback program.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.