A £1.4bn merger in the UK soft drinks manufacturing industry that would create a powerful rival to the likes of Coca-Cola has recieved a provisional not from regulators but may now be thwarted by one of the potential partners.
After nine months of waiting, the Competition Commission has given Britvic and AG Barr the provisional go-ahead but it is now reported that Britvic is no longer keen on the deal.
It had been said that bringing together brands like Irn-Bru, Pepsi, Robinson’s, J2O and Rubicon would create one of Europe’s biggest soft drinks firms, creating large cost savings but at the cost of some 500 jobs.
However, with time having moved on, Britvic says it will “reflect on” what it regards as its improved position as an individual manufacturer.
Chairman Gerald Corbett said the company was “in a different place” than when the merger was originally mooted.
“The cost savings from merging are less, we are performing better, we have new management and we have a new strategy to deliver good growth internationally, as well as in the UK,” he said.
This material is protected by copyright Ken Hurst 2013.