The Board of Britvic plc has announced that it has made a bid to acquire Bela Ischia Alimentos, a Brazil-based concentrates and juice business. It is anticipated that the soft-drinks giant will expand it's presence into the world's largest concentrates market by March of this year.
The total cash consideration is said to be 218 million reais (€64.4 million).
Bela Ischia, which boasts a strong following in Rio de Janeiro and Minas Gerais, will strengthens Britvic's growth and will expand it's brand portfolio in Brazil.
According to Simon Litherland, Chief Executive Officer of Britvic: “The proposed acquisition of Bela Ischia represents an exciting opportunity to build on our very strong first year in Brazil with further expansion of our presence in a large and growing soft drinks market. Bela Ischia operates in a category where Britvic has proven capability of generating growth, launching new products and establishing brand leadership and is an excellent complementary fit with our existing business.”
The move follows recent purchases by Britvic in Brazil, including Empresa Brasileira de Bebidas e Alimentos (EBBA), which it acquired in September 2015.
© 2017 - Checkout Magazine by Donna Ahern