Following months of speculation about the future of The UK soft drinks company, Britvic, newspaper reports are now claiming that sales memoranda are being circulated to potential bidders, including Pepsi and Cadbury Schweppes.

Other likely bidders for the UK soft drinks company, which analysts estimate could be valued at £400m (US$571m)-£500m (US$714m) also include Cantrell & Cochrane an Irish bottling business and Matthew Clark.

According to a report by Sunday Business, Britvic could be partially broken up with Pepsi, which already holds a 10% stake in Britvic acquiring the carbonated drinks side of the business, including Tango and R Whites lemonade with the remaining brands being sold off elsewhere.

The other 90% of Britvic is owned by the holding company Britannia, in which Bass, Whitbread and Allied Domecq are shareholders, with Bass having a majority 50% share and Whitbread and Allied having a 25% stake each.

Bidders for Britvic are expected to submit their initial bids by June 2001.