Britvic considers A.G. Barr merger offer05 September 2012
UK soft drinks firms Britvic and A.G. Barr have confirmed that they have entered preliminary discussions over a possible merger.
A joint statement said that a merger “would create one of the leading soft drinks companies in Europe, with a strong portfolio of market leading brands”. The merger would also “have compelling industrial logic and represents an opportunity for both companies to enhance their industry position, and achieve significant synergies and shareholder value”.
The firms have agreed that Britvic shareholders would own 63% and A.G. Barr shareholders 37% of the enlarged group’s share capital.
The Board of Directors would be drawn equally from the Boards of both companies. Roger White, A.G. Barr’s chief executive would become Chief executive of the combined group and John Gibney, Britvic’s chief financial officer would become chief financial officer.
Gerald Corbett, Britvic’s chairman would become chairman of the Board of the combined group, and Ronnie Hanna, A.G. Barr’s chairman would become deputy chairman. In addition, the new Board would comprise six other non-executive directors, three nominated from each of Britvic and A.G. Barr.
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