UK: PepsiCo silent over Britvic, AG Barr merger talks
Britvic distributes PepsiCo's brands in the UK and Ireland
Yesterday (5 September), an analyst said a change to a control clause within PepsiCo's bottling contract with Britvic signalled PepsiCo's approval of the merger. Britvic is PepsiCo's exclusive bottler in the UK and Ireland.
But PepsiCo today (6 September) said: “We are aware of the announcement made by Britvic and AG Barr. As a matter of policy, we do not comment on M&A activity.”
About 40% of Britvic's sales come from bottling PepsiCo brands. The anaylst, Canaccord Genuity's Wayne Brown, said PepsiCo's approval would remove the main obstacle to the merger.
Britvic and AG Barr confirmed yesterday that they are in talks over a possible merger.
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