Partly Cloudy

Partly Cloudy

max temp: 7°C

min temp: 4°C

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.

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.

Search hundreds of local jobs at Jobs24

0 comments

John Lewis is axing nearly 400 jobs across its restaurants and home fittings service as it grapples with the acute pressures facing the retail sector.

North Street in Sudbury is to lose its Argos and Poundland stores in quick succession.

Flavour and fragrance solutions company Treatt today signalled that profits for its current financial year are now likely to come in “substantially” ahead of previous expectations.

By day Darren Hills is a café kitchen cook in Adnam’s flagship store on Drayman Square in Southwold.

But in his spare time the 25-year old serves as a special constable in Halesworth and Lowestoft, patrolling the streets at night, attending traffic accidents and investigating crimes. Last year, he clocked up more than 350 hours volunteering as a ‘’special”.

Infection and contamination control products group Tristel has reported increased first half revenues and profits, with growth running ahead of management expectations.

Management Jobs

Show Job Lists

Most read

Most commented

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24