12th Nov 2019 08:52
(Alliance News) - Soft drinks maker Britvic PLC said Tuesday it is in exclusive discussions with Refresco about a potential sale some of its juice assets in France.
Britvic is considering the sale of its three juice manufacturing sites in France as well as its private label juice business and Fruite brand. The sale is expected to complete in the spring of 2020, subject to regulatory clearance.
Britvic will retain ownership of the Pressade and Fruit Shoot brands, which would be manufactured by Refresco under a long-term deal. The sale would also not affects its Teisseire and Moulin De Valdonne brands which are still to be manufactured at the remaining French site in Crolles, in the south-east of the country.
Britvic did not indicate a price for the sale. Nonetheless, the FTSE 250-listed firm said the value would not be "material" and would result in only a "modest" impact on adjusted earnings before interest & taxes.
"The retained business would be smaller and higher margin, enabling the local management team to focus on building its branded business," Britvic said in a statement.
Shares in Hemel Hempstead-based Britvic were 0.2% higher at 956.00 pence in London on Tuesday.
By Ahren Lester; [email protected]
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