Carlsberg’s takeover of Britvic has moved a step closer after the soft drinks group’s shareholders voted in favour of the deal.
Last month, Britvic’s board accepted a takeover offer worth £3.3bn from the Danish brewer after two previous bids were rejected.
A stock exchange filing yesterday revealed that 83% of Britvic’s shareholders have backed the deal. As a result, the resolution was passed, paving the way for Carlsberg to complete its takeover.
The transaction is expected to close in the first quarter of 2025, subject to regulatory clearance.
The deal will allow Carlsberg to expand its drinks bottling operations in Britain. As well as producing its own brands, Britvic is PepsiCo’s bottler in the UK. Carlsberg is PepsiCo’s bottler in Norway, Sweden, Switzerland, and some countries in Asia.
Carlsberg stated last month that its intention was to “accelerate commercial and supply chain investments in Britvic, driving the future growth trajectory of the business”. It noted that buying Britvic would take the brewer’s relationship with PepsiCo “to the next level”.
The deal will see the Danish brewer rolling its Carlsberg Marston’s Brewing Company (CMBC) business into that of Britvic to create a single integrated beverage company in the UK called Carlsberg Britvic. It will be led by a management team comprised of individuals from Carlsberg, CMBC, and Britvic.
