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Carlsberg Finalizes Acquisition of Britvic

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The acquisition deal, which valued Britvic at 1,315p per share or approximately £3.3bn, was initially announced in July 2024. Remarkably, it received the backing of Britvic shareholders just one month later.

In September, the Competition and Markets Authority (CMA) launched an investigation into this proposed transaction. However, the investigation was concluded just before Christmas, clearing the path for the acquisition.

Following the announcement regarding Britvic, Carlsberg finalized an arrangement to purchase the 40% stake in the Carlsberg Marston Brewing Company (CMBC) previously owned by Marston’s for £206m.

“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,” stated Carlsberg Group CEO Jacob Aarup-Andersen.

“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.”

On January 17, Paul Davies, the former CEO of CMBC, officially assumed his role as chief executive of Carlsberg Britvic. He will lead the newly formed executive team, which includes chief financial officer Tom Smethers, vice president of commercial growth Bruce Dallas, vice president for off trade sales Ben Parker, and vice president for on trade sales Chris Pratt.

In addition, Pedro Magalhães and Kevin Donnelly will continue serving as managing directors of Britvic Brazil and Britvic Ireland, respectively, as these markets are now integrated into the Carlsberg Group.

Moreover, Carlsberg has solidified its position as PepsiCo’s largest bottling partner in Europe by enhancing its collaboration with the food and beverage giant.

“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,” Aarup-Andersen remarked.

“We look forward to enhancing our combined business across the UK and other markets, and to strengthening our existing ties with PepsiCo.”

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