Partly Cloudy

Partly Cloudy

max temp: 21°C

min temp: 13°C

ESTD 1874 Search

East Anglia: Jobs threat as Britvic and AG Barr agree £1.4bn merger

09:26 14 November 2012

Britvic and AG Barr have unveiled a £1.4billion merger

Britvic and AG Barr have unveiled a £1.4billion merger

DRINKS groups Britvic and AG Barr today warned of likely job losses as they unveiled details of a £1.4billion merger deal.

shares

The companies, which had previously confirmed they were in talks, said the proposed tie-up would create one of Europe’s leading soft drinks firms with annual sales of more than £1.5bn.

However, the merger will come at the expense of up to 500 jobs after the two companies forecast a reduction of between 8% and 12% in their combined headcount of just over 4,000 people.

Hertfordshire-based Britvic, whose brands include Robinsons, Fruit Shoot, R Whites and Tango, has around 3,300 staff, including production sites at Chelmsford and Norwich.

AG Barr, which dates back to 1875 and also makes Irn Bru, Tizer and Rubicon, has just under 1,000 employees.

It was confirmed today that Britvic shareholders will own 63% of the new company, to be called Barr Britvic Soft Drinks, with AG Barr holding the rest. The deal is still subject to shareholder approval.

Britvic traces its origins back to a chemist in Chelmsford in the mid-19th century but it was not until 1949 that a range of juices were launched under the name British Vitamin Products.

In 1971, The British Vitamin Product Company formally changed its name to Britvic.

Britvic acquired the UK licence for Dr Pepper in 1982 and the Tango brand in 1986, and it was awarded a bottling arrangement for Pepsi and 7UP in Great Britain in 1987. The Robinsons brand was bought by Britvic in 1995 from Reckitt & Colman.

Barr, which is based at Cumbernauld, North Lanarkshire, has produced Irn-Bru from a secret recipe for more than 130 years.

Chairmanship of the company passed outside the family for the first time in 2009 when Robin Barr ended his 31-year tenure. He remains on the company’s board as a non-executive director and is one of just three people to know the formula of 32 ingredients used in the drink.

shares

0 comments

Post Office services to return to Yoxford

The Post Office in a Suffolk town is moving to new premises, and will offer longer opening hours.

Dame Fiona Kendrick:, chief executive of Nestlé  UK & Ireland

Food giant Nestlé has announced plans to close its defined benefit pension scheme, sparking the threat of industrial action.

The Treasury has sold another 1% stake in Lloyds Banking Group.

The taxpayers’ stake in Lloyds Banking Group has fallen to below 16% after the Government sold off another tranche of shares.

The installation of solar panels on the roof of Precision Marketing Group's premises in Lamdin Road, Bury St Edmunds

A Suffolk-based firm will be among the organisations taking part in a nation-wide celebration of solar energy tomorrow.

Candy Gaga'’s Wanda Hewell, right, and daughter, Cherish.

Tower Ramparts in Ipswich now has its very own castle – thanks to the success of a local sweet shop business.

Stansted Airport

A report into the future of Britain’s airports does not rule out a second runway at Stansted – and raises fears of extra night flights to the Essex airport.

Growth in manufacturing eased last month  to its slowest level in two years.

Britain’s manufacturing sector grew at its slowest pace in more than two years last month, impacted by subdued demand from Europe.

Speedy Hire
 has warned that its results for this year will come in

Tool rental business Speedy Hire saw nearly a third of its stock market value wiped off after it announced the shock departure of its chief executive and warned over a major blow to full year profits.

Greene King chief executive Rooney Anand.

Pubs and brewing group Greene King today posted another year of record revenues, with sales within its key Retail division topping £1billion for the first time.

Suffolk Coastal considers convenience store bid

Planning chiefs have responded to concerns about noise and antisocial behaviour arising from proposals for a new convenience store in Kesgrave by insisting on closing times being brought forward an hour and the installation of a barrier to restrict overnight parking.

Most read

Most commented

Topic pages