Soft-drinks giant Britvic has announced that it has made a bid to acquire Bela Ischia Alimentos, a Brazilian-based concentrates and juice business, for a total cash consideration of 218 million reais (€64.4 million).
Bela Ischia, which boasts a strong following in Rio de Janeiro and Minas Gerais, will 'both strengthen Britvic's brand portfolio in Brazil and create a broader regional footprint', according to a Britvic statement.
The move follows recent purchases by Britvic in Brazil, including Empresa Brasileira de Bebidas e Alimentos (EBBA), acquired in September 2015, which has since been 'integrated successfully into the Britvic group, and has delivered excellent results in its first year against challenging macro conditions', the company said.
"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," said Simon Litherland, Britvic chief executive.
"Bela Ischia operates in a category where Britvic has [a] proven capability of generating growth, launching new products and establishing brand leadership, and is an excellent complementary fit with our existing business."
It is anticipated that the deal will be completed by March 2017.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
