Carlsberg acquires Britvic in £3.3bn deal

Carlsberg acquires Britvic in £3.3bn deal

Danish brewer Carlsberg has agreed to acquire British soft drinks manufacturer Britvic for £3.3 billion (€3.9 billion). The acquisition will involve Carlsberg paying 1,315p in cash for each Britvic share, including a special dividend of 25p per share. This offer represents a 36% premium to Britvic's share price from one month prior to the announcement. The deal, which aims to create a combined beverage company named Carlsberg Britvic, will require approval from 75% of Britvic shareholders in a forthcoming vote.

The acquisition is expected to generate up to £100 million in cost savings over the next five years. The integration process is set to be completed by the end of 2025, with the transaction anticipated to be earnings accretive by the third year. The move will also enhance Carlsberg's partnership with PepsiCo, which has bottling arrangements with both companies. Additionally, Carlsberg announced the acquisition of a 40% stake in Marston’s Brewing Company for £206 million, further expanding its footprint in the UK beverage market.

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