The deal – which valued Britvic at 1,315p per share, or approximately £3.3bn – was first announced in July 2024, and received backing from Britvic shareholders a month later.
The Competition and Markets Authority (CMA) launched an investigation into the proposed transaction in September, but that was dropped just before Christmas.
Shortly after the initial Britvic announcement, Carlsberg also completed a deal to purchase the 40% stake in Carlsberg Marston Brewing Company (CMBC) previously owned by Marston’s for £206m.
“The Britvic acquisition is a pivotal milestone in the history of Carlsberg as we deepen our commitment to the UK market and write an ambitious next chapter in our growth story,” said Carlsberg Group CEO Jacob Aarup-Andersen.
“Soft drinks is an attractive category that also brings significant synergies in combination with beer. Britvic is a large-scale, well-established business with a strong portfolio of much-loved own and partnership brands that has consistently delivered strong results.”
Paul Davies, formerly the CEO of CMBC, officially took up the role of Carlsberg Britvic chief executive on 17 January.
He will work alongside the new Carlsberg Britvic executive team, which includes chief financial officer Tom Smethers, vice president of commercial growth Bruce Dallas, vice president for off trade sales Ben Parker and vice president for on trade sales Chris Pratt, among others.
Elsewhere, Pedro Magalhães and Kevin Donnelly have retained their roles as the managing directors of Britvic Brazil and Britvic Ireland respectively – with both markets now part of the Carlsberg Group.
Carlsberg has also become PepsiCo’s largest bottling partner in Europe after strengthening its partnership with the F&B giant.
“I’d like to congratulate our new senior leaders on their appointments today, and we’re delighted to welcome all our new Britvic colleagues to the Carlsberg Group,” added Aarup-Andersen.
“We look forward to enhancing our combined business across the UK and other markets, and to strengthening our existing ties with PepsiCo.”
