FDBusiness.com

In line with its ambitions to expand internationally, UK-based Britvic has acquired Fruite, an independent French soft drinks producer with market leading positions in syrups and ambient juice with brands such as Teisseire and Moulin de Valdonne, Fruite and Pressade, for Eur237m.

The acquisition gives Britvic entry to the attractive Eur12.5b French soft drinks market and provides a platform for targeting other markets in mainland Europe. Britvic anticipates Eur10m of cost synergies by 2013 from a number of areas including procurement and supply-chain, along with a Eur7m contribution from revenue synergies through the marketing and launch of some of Britvic’s existing stills brands in France and beyond.

“With a portfolio of iconic, market-leading still brands and as France’s leading independent soft drinks company, Fruite is an excellent strategic fit for Britvic. The acquisition would extend our soft drinks focus into continental Europe, would drive our already strong portfolio into new markets and would enhance our GB offering,” explains Paul Moody, chief executive of Brtivic. “Our successful integration of Britvic Ireland gives us the confidence that we will deliver significant cost synergies and revenue upside, and therefore deliver material incremental value for our shareholders.”