Ballygowan maker expands in Brazil with €63m deal
Soft drinks manufacturer Britvic has announced it will acquire Brazilian firm Bela Ischia Alimentos in a deal worth around €63m.
The deal is the latest example of Britvic's ambition to expand its international operations in the area of concentrates and juices.
It is the second acquisition the company has made in Brazil, following on from the 2015 purchase of Empresa Brasileira de Bebidas e Alimentos.
Britvic is the second largest provider of soft drinks in the UK and the company has a large Irish presence at its plant in Kylemore in Dublin.
Britvic Ireland employs approximately 500 people on the island of Ireland. The company's most recent revenues showed growth of 5.8pc, to £131m (€154m).
The latest figures reveal that the company has now posted six consecutive quarters of growth.
"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. Bela Ischia operates in a category where Britvic has proven capability of generating growth," Britvic ceo Simon Litherland said.
"We are confident that this complementary acquisition should create a fantastic platform to consolidate our strategic position in Brazil and generate additional shareholder value over the coming years," Mr Litherland said.
The company combines its own leading brand portfolio including Fruit Shoot, Robinsons, Tango, J2O, Teisseire and MiWadi with PepsiCo brands such as Pepsi, 7UP and Mountain Dew Energy.
Britvic's Irish arm produces Ballygowan water and MiWadi dilutables.