Britvic and AG Barr in merger talks
Soft drinks makers Britvic and AG Barr have confirmed that they are in talks over a £1.3bn merger that would unite brands such as Robinson’s, J2O and Tango with Irn-Bru and Tizer.
In a statement, Britvic says that “early stage discussions” would see its shareholders own 63 per cent of the new group with AG Barr taking 37 per cent.
Despite Britvic’s majority stake, it is proposed AG Barr chief executive Roger White will take the top job in the new business.
It is not yet known who would take the top marketing job. Simon Stewart is marketing director at Britvic, while Adrian Troy is head of marketing at AG Barr.
Rumours have been circulating about Britvic’s needs for a partner since July when it announced that the the full product recall of its Fruit Shoot range over safety concerns would cost it up to £25m, sending shares tumbling.
The statement adds: “Discussions are at an early stage and, whilst there can be no certainty at this stage that such discussions will conclude successfully.”
