Britvic Regulatory News (BVIC)

Britvic plc

("Britvic" or the "Company")

Legal Entity Identifier: 635400L3NVMYD4BVCI53

4 May 2021

ACQUISITION

Britvic enters plant-based nutrition through the acquisition of Plenish

Britvic plc announces the acquisition of Plenish, which offers a range of organic, clean label, plant-based beverages across plant-based milks, cold-pressed juices and functional shots. Founded in 2012 as a direct-to-consumer brand, it has since expanded into retail distribution. Using best-in-class ingredients sourced from sustainable, organic farms and no additives, the Plenish brand gives Britvic access to a fast-growing category and is directly aligned to the group strategic priorities of Accessing New Spaces and Healthier People, Healthier Planet.

While it is strategically important, the immediate value of the transaction is not material enough to impact adjusted EBIT in 2021. A fuller update will be shared within our Interim Results announcement on 18 May 2021.

Commenting on this acquisition, Simon Litherland, Britvic Chief Executive Officer said: 

"I am delighted that Britvic has acquired the Plenish brand and the opportunity to accelerate its progress in the fast-growing area of plant-based nutrition. We are confident that the strength of our relationships with retailers, supply chain and distribution reach will fuel further momentum for the brand and provide a platform for its expansion and long-term growth. I am really pleased that Kara Rosen, the founder of Plenish, and her team will be joining Britvic, and look forward to working with them and benefiting from their native expertise in plant-based nutrition, direct-to-consumer and digital marketing."

Kara Rosen, Founder of Plenish, said:  

"I started Plenish nine years ago in my kitchen to help make it easy and delicious for people to improve their health and make a positive impact for the planet. Our plant-based drinks are still made like I originally made them at home - with best in class ingredients sourced from sustainable, organic farms and no additives. I'm so excited for Plenish to join forces with Britvic, a business I've long admired as a brilliant builder of brands and which shares similar values, particularly around healthier people and planet. Together we can reach more people in more places with products and programmes that help you feel good, made in a way that you can feel good about."

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About Plenish

Plenish is an award-winning plant-based drinks brand that's on a mission to fuel a healthier world. The business has grown from the UK's first cold-pressed juice company, hand-making organic drinks in founder Kara Rosen's kitchen, to one of the UK's fastest growing plant-based drinks brand whose organic m*lks, juices and shots are sold nationwide. Plenish is famous for its simple recipes using only a handful of natural ingredients and no additives. All its products are made with organic, sustainably sourced produce of the highest quality. Plenish is a market leader in sustainability and is the only plant-based drinks brand to be certified carbon negative. Plenish achieved B-Corp status in 2021.  

About Britvic

Britvic is one of the leading branded soft drinks businesses in Europe. The company combines its own leading brand portfolio including Fruit Shoot, Robinsons, Tango, J2O, London Essence, Teisseire and MiWadi with PepsiCo brands such as Pepsi, 7UP and Lipton Ice Tea which Britvic produces and sells in GB and Ireland under exclusive PepsiCo agreements.

Britvic is the largest supplier of branded still soft drinks in Great Britain ("GB") and the number two supplier of branded carbonated soft drinks in GB. Britvic is an industry leader in the island of Ireland with brands such as MiWadi and Ballygowan, in France with brands such as Teisseire, Pressade and Moulin de Valdonne and in Brazil with Maguary, Bela Ischia and Dafruta. Britvic is growing its reach into other territories through franchising, export and licensing. Britvic's management team has successfully developed the business through a clear strategy of organic growth and international expansion based on creating and building scale brands. Britvic is listed on the London Stock Exchange under the code BVIC and is a constituent of the FTSE250 index.