Shareholders of UK soft drinks maker Britvic have overwhelmingly approved Carlsberg’s GBP 3.3 billion bid to acquire the company. In a vote held on Tuesday, 27 August, Britvic revealed in a stock exchange filing that 99.7% of the 165 million votes cast were in favor of the transaction. This represents 83% of Britvic's total shareholders who voted for the deal, clearing the way for the Danish brewing giant to finalize the acquisition.
The transaction, expected to close in the first quarter of 2025, remains subject to regulatory clearance. Britvic’s board had already approved Carlsberg’s proposal in July, after the brewer increased its offer to GBP 12.90 per share. In addition, Britvic agreed to pay shareholders a 25p per share dividend. (inside.beer, 8.6.2024) The increased bid followed two previous offers of GBP 12.50 and GBP 12 per share, which Britvic rejected in June. (inside.beer, 24.6.2024)
As part of the deal, Carlsberg intends to merge its UK Carlsberg-Marston’s operations with Britvic, creating a new joint entity named Carlsberg Britvic. Furthermore, Carlsberg has agreed to pay GBP 206 million to acquire Marston’s remaining 40% stake in their joint venture.
The management of the new company will be composed of representatives from Carlsberg, Carlsberg Marston’s, and Britvic, combining expertise from both brewing and soft drinks sectors to drive the future growth of the newly formed Carlsberg Britvic.
