Britvic has announced the acquisition of Jimmy’s Iced Coffee, a UK-based ready-to-drink iced coffee brand, as well as the Extra Power energy drink brand in Brazil.
On the acquisition of Jimmy's Iced Coffee, the group said that the brand generated a retail sales value of £17 million (€19.8 million) in the year to June 2023, a 43% increase on the previous year.
The UK ready-to-drink iced coffee category is fast-growing, the group added, with a retail sales value of £280 million (€325.8 million) last year, an annual increase of 15.3%.
Growing The Brand
Britvic said that it plans to accelerate the growth of the brand through its existing customer relationships, to 'drive new listings and increase distribution'.
"We have a long track-record of acquiring and developing brands, and I am confident in our ability to quickly expand our position in the iced coffee category – which is an exciting and fast-growing market segment," commented Simon Litherland, Britvic CEO.
Extra Power Acquisition
Elsewhere, commenting on the acquisition of Extra Power, Britvic said that the energy drinks brand holds a 42% market share in its core regions near Brasilia, and is an 'important extension' of the group's Brazil operations.
In the year to December 2022, the Extra Power portfolio generated R$118 million (€22.4 million) in net sales, an increase of 26% on the previous year.
"I am confident this acquisition will accelerate our growth trajectory in one of our key markets and generate great value for our business," Litherland added.
Britvic first entered the Brazilian market in 2015 with the acquisition of Ebba, followed by the acquisition of Bela Ischia in 2017.
Read More: Britvic Reports 'Excellent Start' To Year, Revenue Up 7.9%
