Britvic has announced that its shareholders have voted in favour of the recommended cash acquisition from the drinks manufacturer Carlsberg.
On 27 August, a shareholders meeting saw 83% of Britvic representatives vote in favour of a deal for a takeover by multinational brewer Carlsberg for £3.3bn, with the merged company to be named Carlsberg Britvic.
Retailers have previously expressed concerns of cost cutting, cutting down of representatives and bigger companies dominating the market due to the merge.
Subject to further conditions being met, the deal is expected to be completed during the first quarter of 2025. The Britvic board accepted a £3.3bn bid from Carlsberg after a rejecting a series of lower bids.
A deal was also agreed between Carlsberg and PepsiCo regarding its bottling arrangements with Britvic to clear a path for the acquisition.
Ian Durant, non-executive chair of Britvic, said: “The proposed transaction creates an enlarged international group that is well-placed to capture the growth opportunities in multiple drinks sectors.
“Crucially, to remain competitive at a time when the market is being shaped by the trend of increasing consolidation among bottling partners, Carlsberg’s agreement with PepsiCo provides the combined group with a strong platform for continued success.”
Durant added that the board of directors believe that “the strategic merits” of this offer are “compelling”, and the offer also provides shareholders with confirmation of the current “strength and medium-term prospects” of the drinks business.
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