UK: Vimto owner Nichols in takeover talks
UK soft drinks group Nichols has admitted that it is in talks over a possible takeover of the company.
Nichols, which owns the Vimto brand, said today (19 March) that it is in "preliminary discussions" over a possible offer.
"The discussions are at an early stage and accordingly, there is no certainty that any offer will be made. A further announcement will be made in due course," Nichols said in a statement to the London Stock Exchange.
Nichols saw profits jump almost 16% last year as its focus on soft drinks paid off. Last week, the company posted a 15.8% rise in pre-tax profits to just under GBP7m (US$13.5m).
The jump in earnings came from Nichols' move to focus on two areas - soft drinks and its dispense systems business. Revenues, meanwhile, inched up 1.6% to GBP52.3m during 2006.
Nichols officials were unavailable for further comment as just-drinks went to press.
The market reacted favourably on the news with shares in Nichols up over 7% to GBP3.04 at 16:00 GMT.
UK soft drinks company Nichols has pulled out of its offer period and is no longer for sale....
Nichols has posted a lift in sales for its first half, despite "extremely difficult" trading conditions....
The Coca-Cola Co. has stayed silent on speculation that it may be looking to acquire Scottish soft drinks company AG Barr....
UK soft drinks company Nichols has confirmed that it is still locked in talks about a possible takeover....
UK soft drinks group Nichols has snapped up Cariel Soft Drinks....
The sale of UK soft drinks group Nichols now appears unlikely, just-drinks understands....
Irn-Bru maker AG Barr is one of the parties in talks to buy fellow UK soft drinks group Nichols, just-drinks understands....
UK-based Nichols saw profits jump almost 16% last year as its focus on soft drinks paid off....
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- Mike’s Hard Lemonade Could Be a Hard Sell
- What do A-B InBev results mean for SABMiller deal?
- just The Preview - Anheuser-Busch InBev's Q4 & FY
- Diageo "smart bottle" targets consumers at home
- Suntory whiskey seeks to "eclipse" Diageo, Pernod
- Tesco reinstates Dan Jago following suspension
- Diageo adds Dubai to Johnnie Walker skyline series
- Asahi Beverages CEO to step down - report
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report