Carlsberg's £3.3bn Britvic takeover given go ahead

Carlsberg's £3.3 billion deal to buy Robinsons squash maker Britvic has been given the green light by Britain's competition watchdog, smoothing the way for one of the year's biggest takeover deals.

The two businesses announced the agreement in July to bring together Carlsberg's array of beers with the soft drinks portfolio of Britvic, based in Hemel Hempstead, Hertfordshire.

In September, the Competition and Markets Authority (CMA) said it would launch an initial probe, but confirmed on Tuesday it would be not be referring the tie-up for a full in-depth investigation.

The deal is now expected to complete on 16 January.

A Carlsberg spokesman said: "We're delighted to have received all necessary regulatory clearances and, subject to the satisfaction of the court, we look forward to completing the transaction in January 2025.

"We believe the combination of Carlsberg and Britvic will create a highly attractive multi-beverage supplier in the UK, with an efficient supply chain and distribution network that provides our customers with a portfolio of market-leading brands and world-class service."

Carlsberg plans to create a single integrated drinks business called Carlsberg Britvic after completing the takeover.

Britvic, which employs around 4,500 staff and also makes J2O and Tango, had previously rejected a £3.1 billion bid from the beer giant..

The firm has held an exclusive licence with US partner PepsiCo to make and sell brands such as Pepsi, 7up and Lipton iced tea in the UK.

Carlsberg, which also owns brands including 1664 and Brooklyn, will take over Britvic's bottling agreement with PepsiCo as part of the deal.

The Danish brewer has bottled PepsiCo drinks in a number of markets, but sees potential to expand this further worldwide.

On announcing the deal, Carlsberg also said it would buy out Wolverhampton-based Marston's, which makes Pedigree and Hobgoblin beers, from the joint venture brewing business run by the two firms for £206 million.

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