UK: Nichols acquires Ben Shaws, reports “significantly ahead” 2009
Nichols is upbeat on its FY performance
Nichols has announced the acquisition of the Ben Shaws 'soft drinks on draught' business in the UK.
The soft drinks producer and dispense firm, which owns the Vimto drinks brand, announced this morning (21 January) that it has purchased Ben Shaws from Belgian firm Sunnyland Distribution for an undisclosed sum.
Ben Shaws is the fourth largest operator in the UK soft drinks dispense market, behind Nichols’ own dispense operation, which is the number three.
“In bringing together the group’s current dispense operation with Ben Shaws, this acquisition consolidates the two largest remaining independent branded soft drinks dispense businesses into a single stable,” Nichols said.
“It also provides Nichols with further growth opportunities in this sector and will enable it to maintain its strong growth of the last two years.”
Coinciding with the announcement, Nichols also announced in a trading update today that full-year revenues for 2009 were “well ahead” of internal projections and “considerably up” on last year. The company expects the group’s profitability will be “significantly ahead” of current market expectations.
“Despite the economic downturn, we had an exceptionally strong year, beating both our internal and the city’s forecasts and also increasing our market share significantly ahead of industry trends,” said non-executive chairman John Nichols.
“With the acquisition of Ben Shaws consolidating our key position in the dispense market we view the future with confidence.”
Nichols will announce its preliminary results on 24 March.
For Nichols' H1 results, issued in August, click here.
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