Britvic shareholders have approved a takeover deal worth £3.3bn by Danish brewer Carlsberg.
Voting at a meeting yesterday (either in person or by proxy), 83% of Britvic shareholders voted in favour of the deal.
Under the terms of the agreement, Carlsberg will pay 1,315p per share to Britvic investors. The acquisition will create a single integrated beverage company in the UK, called Carlsberg Britvic.
Completion of the acquisition remains subject to the deal meeting certain regulatory approvals. Providing these are met, the acquisition is expected to be completed in the first quarter of 2025.
Speaking about the acquisition, Carlsberg group CEO Jacob Aarup-Andersen said: “The proposed transaction is attractive for shareholders of Carlsberg, supporting our growth ambitions, being immediately earnings accretive and value-accretive in year three. We are excited about expanding our global partnership with PepsiCo and believe that the longer-term opportunities will be very beneficial for both companies.
“We are committed to accelerating commercial and supply chain investments in Britvic, and we are confident that Carlsberg Britvic will become the preferred multi-beverage supplier to customers in the UK with a comprehensive portfolio of market-leading brands.”
In a separate deal, Carlsberg has announced it will purchase Marston’s 40% share in the two companies’ joint UK brewing venture, Carlsberg Marston’s Brewing Company, for £206m, giving the Danish firm total control of the operation going forward.
