Britvic and AG Barr merger agreed
The £1.4 billion ($2.2.bn) merger of Britvic and Scottish rival AG Barr has been confirmed this week.
The deal, which has created one of the biggest soft drinks firms in Europe, will bring Robinsons Barley Water, J2O and Fruit Shoot under the same roof as Irn-Bru, Tizer and Rubicon to form a group with annual sales of more than £1.5 billion ($2.3.bn).
However, Roger White, the current chief executive of AG Barr, who will lead the combined firm – to be known as Barr Britvic Soft Drinks – warned that the merger could lead to the loss of around 500 jobs.
Gerald Corbett, chairman of Britvic, will continue in the same role at the combined company, and says the merger – which is subject to shareholder approval – will ‘create a world-class soft drinks company’.
Britvic shareholders will own 63 per cent of the new company, with AG Barr holding the rest.