FDBusiness.com

Termination of discussions with A.G. BARR p.l.c (“AG Barr”)

 Breaking News
  • Nestlé Inaugurates New Nescafé Dolce Gusto Production in Vietnam Nestlé has inaugurated a new Nescafé Dolce Gusto capsule production line in Dong Nai Province, Vietnam. The site will process an expected 2,500 tons of coffee per year (equivalent to 130 million capsules), using high quality coffee beans from Vietnam. This volume is expected to increase in the coming years. The investment reflects Nestlé’s clear focus on high-growth, [...]...
  • Pink Lemonade Yogurt? Arla Brings Indulgence to New Markets Arla Foods is to expand its successful Finnish brand, Ihana, into new markets with the premium yogurt range being launched in Denmark and the UK. Meaning ‘wonderful’ in Finnish, Ihana was launched through an extensive brand launch in 2016 in Finland with an iconic new design. Indulgence is one of the few areas in growth within [...]...
  • Process Components Announces Kemutec Expansion into Netherlands Process Components has announced the expansion of subsidiary company Kemutec in Europe, with the long-established manufacturing brand opening a new office in the Netherlands. The move forms a key part of its global strategy to extend its global territories, significantly grow its revenues and create new jobs. Kemutec has more than three decades’ worth of heritage in [...]...
  • Packaging Automation Supports the Reduction in Plastic Packaging Waste With the launch of the UK Plastics Pact to address the impact plastic waste is having on the environment, retailers and manufacturers are more conscious of single use and non-recyclable plastics and want to cater for the green consumer. The industry is turning to various kinds of eco-friendly packaging with the aim of reducing plastic [...]...
  • Glanbia Cheese Joint Venture to Build New €130 Million Mozzarella Cheese Facility Glanbia Cheese, the joint venture business between Glanbia plc and Leprino Foods, plans to build a new, world-class mozzarella cheese manufacturing facility in Portlaoise, County Laois, Ireland. A site for the new facility has been identified at the recently established Togher National Industrial Estate in Portlaoise. A total of €130 million will be invested in [...]...

Termination of discussions with A.G. BARR p.l.c (“AG Barr”)

July 11
14:19 2013

The Board of Britvic and its advisors have had a number of discussions with AG Barr and its representatives concerning a possible merger, following the Competition Commission’s clearance received on Tuesday, 9 July 2013.  Britvic received a new proposal from AG Barr for a merger with a ratio of 65% Britvic 35% A G Barr, which represented only a small improvement on the previous terms as announced on 14 November 2012 and was at a considerable discount to the current market capitalisation ratios of the two companies.  The Board of Britvic therefore rejected the proposal and has agreed with AG Barr to terminate discussions.

 

Britvic’s Chairman Gerald Corbett said “Under Simon Litherland’s leadership, our performance has significantly improved and this, combined with the £30 million cost reduction plan and accelerating international expansion, means that our future is bright.  The execution and delivery of this is now the absolute priority of the Britvic team. We wish Barr and its management team well. They are good people with a fine business.”

In accordance with Rule 2.8 of the Takeover Code, AG Barr has today issued a statement confirming that it does not intend to make an offer for Britvic.

As required by Note 3 of Rule 2.5 of the Takeover Code, Britvic confirms that this announcement is being made without the prior agreement or approval of A.G. Barr.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements