Carlsberg to buy Robinsons squash maker Britvic

Carlsberg has agreed a £3.3bn deal to buy Britvic, the company which makes drinks such as Robinsons squash and J20. The Danish brewer said it would create a single beverage company called Carlsberg Britvic to grow its business in the UK and western Europe. Britvic chairman Ian Durant said the merits of Carlsberg's takeover offer were "Compelling". Russ Mould, investment director at AJ Bell, said Britvic would add "Some diversification" to Carlsberg's portfolio. Britvic holds an exclusive licence with US firm PepsiCo to make and sell brands such as Pepsi, 7up and Lipton iced tea in the UK, and Carlsberg also has a bottling deal with the US company. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said the takeover would give Carlsberg the chance to expand its global partnership with PepsiCo "And streamline its bottling operations across European markets and now the UK". In a separate deal on Monday, Carlsberg also agreed to take control of its UK brewing joint venture with Marston's, which makes beers including Hobgoblin and Pedigree.

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