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Britvic completes Ebba deal

Thu, 01st Oct 2015 11:20

(ShareCast News) - Soft drinks group Britvic has completed the acquisition of Brazilian sector peer Empresa Brasileira de Bebidas e Alimentos SA (Ebba) for £120.8mOn 23 July, the FTSE 250-listed company announced the acquisition, though it indicated the deal remained subject to regulatory and shareholders' approval.The group said it plans to accelerate growth in the Brazilian company by building on the existing market platform and by extending existing brands into new sub-categories and introducing Britvic brands to the Brazilian market."The acquisition of Ebba represents a unique opportunity to acquire a high quality business in a substantial soft drinks market, with exciting future growth potential," group chief executive Simon Litherland said in July."Ebba's brands are particularly strong, and have a relevance to Brazilian consumers similar to the ones which Robinsons, MiWadi and Teisseire enjoy in their home markets."Britvic shares were up 0.96% to 685.00p at 1410 BST on Thursday.