Britvic rejects Carlsberg’s £3.1b bid
Britvic shares surged 15% following the statement (Photo by Andrea Piacquadio via Pexels)
Carlsberg’s latest bid of 1,250p per share, valuing Britvic at around £3.1 billion, was rejected on Monday, 17 June. This follows an earlier June offer of 1,200p per share for Britvic, known for brands like Robinson’s Fruit Shoot and J20, which was also turned down.
The board and advisers ‘carefully considered the second proposal’ but it decided that the deal ‘undervalues’ the firm, according to a statement from Britvic.
According to The Drinks Business, Britvic shares surged 15% following the statement, then fell slightly but remained up by about 10-11%.
In April, Carlsberg announced plans to launch a global campaign to reposition its flagship beer brand across 120 markets.
Jacob Aarup-Andersen, chief executive officer, Carlsberg, said: “The company has a strong foundation and a healthy financial position. We’re well positioned to invest in our brands and in our markets to capture attractive long-term growth opportunities. I’m confident that we can accelerate growth in line with the SAIL’27 priorities and continue to drive year-on-year sustainable and profitable results.”
Carlsberg’s global brand director, Lynsey Woods, said the ‘sharpened positioning’ followed extensive archival research into Carlsberg’s history and its impact on people’s lives, focusing on bringing authenticity to the brand’s new positioning.
