The Danish brewery group Carlsberg has agreed to a takeover of the British soft drink manufacturer Britvic worth 3.3 billion pounds. With this move, Carlsberg aims to expand its activities in the beverage sector and strengthen its presence in the British market.

Britvic, listed on the London Stock Exchange, acts as a bottler for PepsiCo in the UK, while Carlsberg operates for the US company in countries such as Norway, Sweden, Switzerland, Cambodia, and Laos.

Jacob Aarup-Andersen, CEO of Carlsberg, stated that the purchase of Britvic would take the existing partnership with PepsiCo "to the next level." Additionally, Carlsberg will acquire Britvic's soft drink brands, including Robinsons and Fruit Shoot.

As part of the agreement, Carlsberg has agreed to pay 1,290 pence in cash per Britvic share and distribute a special dividend of 25 pence to Britvic shareholders.

On Monday, Britvic shares rose by 5 percent to 1,269 pence.

The agreement was reached after Britvic rejected bids of 1,200 pence and 1,250 pence per share last month. The latest offer represents a premium of approximately 36 percent on Britvic's closing price of 970 pence on June 19, the day before the first speculations about Carlsberg's interest in the group.

**Carlsberg shareholders were initially cautious about the deal, causing the shares of the brewery group to drop by almost 10 percent. However, on Monday, Carlsberg shares in Copenhagen rose by 4 percent after the company emphasized that the acquisition would bring attractive synergies and cost savings of 100 million pounds over five years.**

Aarup-Andersen announced that Carlsberg will pause its share buyback program as a result of the acquisition, but the dividend program will remain unchanged. The buyback program is to be resumed once the net debt to EBITDA ratio has fallen to 2.5.

One cannot have everything," said Aarup-Andersen regarding the decision to temporarily suspend stock buybacks. "It's about creating long-term value for the shareholders.

Some Carlsberg shareholders had also questioned the expansion in the British market, as the brewery's Asian business is growing rapidly and possibly Southern European beer brands could be up for sale.

There are only a few available assets on the market. This was a unique opportunity," explained Aarup-Andersen, adding that the Britvic deal does not exclude future acquisitions in these regions.

The deal also provides Carlsberg with a larger platform in the British market, where the company is currently the fourth largest brewer.

Additionally, on Monday Carlsberg agreed to acquire Marston's minority stake in their brewery joint venture for £206 million. This announcement caused Marston's shares to rise by up to 20 percent, as the company can now focus on reducing debt and simplifying its business.

According to the website of Britvic, the origins of the company date back to the 1930s, when a chemist in Chelmsford, Essex, began producing soft drinks.