Nick Rabbitts, 8 Jul
THE PARENT company of Limerick water company Ballygowan is set to be
acquired by beer giant Carlsberg.
Up to now, the firm, based in Newcastle West, was owned by another huge
beverage firm, Britvic.
However, in a notice to the markets this Monday, it was announced that
the boards of Carlsberg and Britvic had announced they have reached
agreement on the terms of a cash offer to be made by Carlsberg to
acquire the entire share capital of Britvic.
As well as having Ballygowan under its umbrella, Britvic also holds the
rights to manufacture bottle and sell a number of other brands
including Pepsi, 7Up and Lipton's Ice Tea.
It also owns a number of other brands including Robinsons, Tango, Fruit
Shoot, J2O and Aqua Libra.
Here in Ireland, Miwadi also comes under its ownership.
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Chief executive of the Carlsberg Group Jacob Aarup-Andersen said: "With
this transaction, we are combining Britvic’s high-quality soft drinks
portfolio with Carlsberg's strong beer portfolio and route-to-market
capabilities, creating an enhanced proposition across the UK and other
markets in Western Europe. 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."
The acquisition was made public at a conference call this Monday
morning.