Britvic has acquired the soft drinks arm of C&C Group, the Irish company that owns Magners cider, for £169.5m. The deal includes the Ballygowan water brand and the right to market and distribute the Pepsi and 7Up brands in Ireland.
Britvic chief executive Paul Moody says that the deal is a “great opportunity” to accelerate the company’s international growth. He says that it plans to retain C&C’s senior management team. He adds that the C&C brands represent a good fit with Britvic, which already holds the franchise for Pepsi and 7Up brands in the UK, along with the J20, Robinsons and Tango brands.
Britvic has issued a series of profit warnings since its flotation in December 2005. It will announce its interim results next week.