Last checked at 12 Nov 2019 07:00
Britvic plc
("Britvic" or the "Company")
Legal Entity Identifier: 635400L3NVMYD4BVCI53
12 November 2019
DISPOSAL
BRITVIC PLC ("BRITVIC") POTENTIAL SALE OF THREE BOTTLING FACILITIES IN FRANCE
The Board of Britvic announces today that it has entered into exclusive discussions with Refresco over the potential sale by Britvic of its three juice manufacturing sites in France, its related private label juice business, and the Fruité brand. The proposed sale is subject to a consultation process with the relevant employee representatives, which has now been initiated, and also subject to competition clearance by the French Competition Authority. Britvic will retain ownership of the Pressade and Fruit Shoot brands, which would be manufactured by Refresco as part of a long-term partner arrangement. The transaction will not affect the Teisseire and Moulin De Valdonne brands or the private label syrups business, which are all manufactured at the remaining site in Crolles.
The value of the transaction is not material and would result in a modest impact on adjusted EBIT. The transaction would be expected to complete in Spring 2020. The retained business would be smaller and higher margin, enabling the local management team to focus on building its branded business. An update will be provided at the Preliminary results announcement on 27 November 2019.
For further information please contact:
Investors |
|
|
Steve Nightingale | Director of Investor Relations | +44 (0) 7808 097784 |
Media |
|
|
Kathryn Partridge | Director of Corporate Relations | +44 (0) 7803 854229 |
Megan Ratcliffe | Head of Corporate Communications | +44 (0) 7808 097769 |
Stephen Malthouse | Headland | +44 (0) 203 805 4844 |
Notes to editors
About Britvic
Britvic is one of the leading branded soft drinks businesses in Europe. The company combines its own leading brand portfolio including Robinsons, Tango, J2O, Fruit Shoot, 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 and Pressade and in Brazil with Maguary 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 FTSE 250 index.