UK: Britvic silent on private equity move

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Britvic has stayed silent on press reports linking private equity firm Permira with a move for the soft drinks company.

In today's (14 May), reports claimed that Permira is mulling making another move on Britvic after having a number of informal approached rebuffed. Late last year, Permira took its holding in the UK-based soft drinks company up to 13.98%.

The report also claims, citing sources close to the situation, that Britvic refused the private equity firm access to its books earlier this year, saying it was performing well and was on track to create long-term value for investors. Permira has also held talk with PepsiCo, which has a bottling contract with Britvic which accounts for almost 50% of its profits, the paper claimed. PepsiCo is still backing Britvic, the report noted.

When contacted by just-drinks a spokesperson would not be drawn on the reports. "Press speculation is press speculation - we will not be commenting on such reports," the spokesperson said.

Sectors: Soft drinks, Water

Companies: PepsiCo

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