UK/Brazil: Britvic Acquires Jimmy’s Iced Coffee and Extra Power Energy Drink

The Board of Britvic plc, a British producer of soft drinks based in Hemel Hempstead, England, announced today the acquisition of Jimmy’s Iced Coffee in the UK and Extra Power energy drink from Brazil.

Founded in 2010, Jimmy’s Iced Coffee is the fastest growing ready-to-drink iced coffee brand in the segment with more than 10,000 distribution points in the UK. Started by Jim Cregan and his sister Suzie Owen in 2010, Jimmy’s generated a retail sales value of GBP 17m (USD 21.8m) in the year to June 2023, +43% on the previous year. The UK ready-to-drink iced coffee category is both large and fast-growing, with a retail sales value (RSV) of GBP 280m (USD 360m) last year, an annual increase of 15.3%.

Simon Litherland, Britvic CEO, says: “We are thrilled to welcome Jimmy’s Iced Coffee to our portfolio of much-loved Britvic brands. The focus on innovation, great taste with fewer calories, and fully recyclable packaging makes Jimmy’s a perfect fit for Britvic. We have a long track-record of acquiring and developing brands, and I am confident in our ability to quickly expand our position in the iced coffee category – which is an exciting and fast-growing market segment.”

Jim Cregan, Co-founder of Jimmy’s Iced Coffee says: “We are so delighted with this deal which is the culmination of twelve years of monumental hard work by my sister and I. We have poured our heart and souls into making this business what it is today and we feel so fortunate that Britvic is now able to take Jimmy’s to places about which we could only dream. We are excited to watch the next chapter of the journey unfold and look forward to Jimmy’s Iced coffee becoming even more well-known and enjoyed.”

Jimmy’s Iced Coffee founders Jim and Suzie will continue to be involved in the business as ambassadors for the brand, helping to support the transition while providing advice on brand direction and future innovation, ensuring that Jimmy’s core values and ethos continue to drive the brand.

The transaction will be financed from existing internal resources and external debt facilities.

The second acquisition concerns the Extra Power energy drink brand in Brazil from GlobalBev. This marks an important extension of Britvic’s Brazilian operations, consistent with Britvic’s strategy to accelerate and expand its presence across Brazil.

With 42% market share in its core regions near Brasilia, Extra Power enables access to the fast-growing, high-margin energy category. In addition, the acquisition includes a modern, efficient warehouse in Brasilia that will enhance Britvic’s supply chain efficiency across its wider portfolio and route to market into Brazil’s Centre-West region.  In the year to December 2022, the acquired portfolio generated BRL 118m (USD 25m) of net sales, growing 26% on the previous year.


Simon Litherland, Britvic’s Chief Executive Officer commented: “I am delighted by this acquisition, which enables us to enter the higher-margin energy category in Brazil. In line with our strategy to accelerate and expand our presence in the country, we will access a growing category, extend our regional presence and deliver efficiencies in our supply chain. I am confident this acquisition will accelerate our growth trajectory in one of our key markets and generate great value for our business.”

This acquisition gives Britvic a meaningful presence in Centre-West region (Distrito Federal & Goias), providing the opportunity to scale its existing brands into a region where the business has historically under-indexed, as well as bring the acquired brand into Britvic’s existing footprint.

Britvic first entered the Brazilian market in 2015 with the acquisition of Ebba, followed by the acquisition of Bela Ischia in 2017. Since then, Britvic has developed fruit favorites such as Maguary, Dafruta and Bela Ischia into strong national presences known for innovation.

The Maguary brand heritage dates back to 1953 and, similar to the European flavor concentrates brands, is consumed by families at home. This heritage and family awareness enabled Fruit Shoot to be launched in Brazil as Maguary Fruit Shoot – following the same principle Britvic has followed in Europe, where Robinsons and Teisseire are the halo brands.

More recently the local team has expanded the brand’s presence further launching a plant-based chocolate drink. New category launches in recent years have included Puro Coco and Natural Tea, both of which are ready-to-drink formats in the coconut and iced tea categories. The expansion of the portfolio continued in 2020.

Dafruta Tropical was launched in the flavour concentrates category, utilizing the technical know-how of the Robinsons formulation. This new range uses real fruit, has a range of flavours and is pre-sweetened, differentiating it from the traditional concentrates in Brazil which require sugar to be added by the consumer. More recently the portfolio has expanded with the launch of Britvic Mixers and the premium Mathieu Teisseire range of concentrates for cocktails.

The growth market for fruit drinks in Brazil is perfectly complemented by Britvic’s fruit growing and fruit processing company, Be Ingredient, providing natural ingredients for Britvic and the international market.

In the financial year 2022, Britvic generated GBP 143m (USD 183.5m) of revenue in Brazil.

The acquisition of Extra Power will be funded from existing internal resources and external debt facilities.

The acquisition will require regulatory clearance but is expected to be completed around the start of Britvic’s next financial year in October 2023.

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