Irn-Bru maker AG Barr and Britvic initiate merger talks
One of Scotland’s biggest marketers, AG Barr, has reportedly approached rivals Britvic with a view to a potential merger of their operations.
The £1.4bn deal would potentially see the Irn Bru maker hold a 37% stake in the combined company with Britvic investors taking the rest.
It is thought that AG Barr chief executive Roger White would continue in the same position in the combined group while John Gibney would continue his role as chief financial officer. Britvic chairman Gerald Corbett would chair the board with his opposite number at Barr’s serving as deputy.
A Britvic spokesperson said: “A merger would create one of the leading soft drinks companies in Europe, with a strong portfolio of market leading brands.
“The combination would have compelling industrial logic and represents an opportunity for both companies to enhance their industry position, and achieve significant synergies and shareholder value.”
It added: “Discussions are at an early stage and, whilst there can be no certainty at this stage that such discussions will conclude successfully, agreement has been reached with respect to certain key aspects of the merger.”