Britvic makes two acquisitions as revenues hit £476m
Somerset drinks company Britvic has announced two acquisitions as its revenues continue to grow.
The firm has issued a trading statement which included the news it has made two bolt-on acquisitions.
The company added that it has seen its revenues grow by almost ten per cent in the last three months.
In the last three months the company saw revenues of £476.7m.
Chief executive Simon Litherland said: “Trading in the quarter has been strong, with revenue increasing 9.9 per cent, driven by positive price/mix and volume growth. Consumer demand for our portfolio of leading family favourite brands remains buoyant ahead of the key summer trading period, as we continue to offer consumers great quality and value at affordable prices.
“We expect to deliver full year revenue and profit within the range of current market expectations.
We are also announcing two targeted acquisitions today. In Great Britain, we will expand our portfolio through the addition of Jimmy’s Iced Coffee, another highly appealing consumer brand in a strongly growing market segment. “In Brazil, we are extending both our brand portfolio and our regional footprint in the Centre-West though the acquisition of the energy brand Extra Power.
“These transactions are aligned to our strategic priorities and provide further opportunities to accelerate our strong growth trajectory.”
The UK ready-to-drink iced coffee category is both large and fast-growing, with a retail sales value (RSV) of £280m1 last year, an annual increase of 15.3 per cent.
Founded in 2010, Jimmy’s Iced Coffee is the fastest growing brand in the segment, thanks to its branding, range of products, differentiated packaging and multi-channel presence.
In the year to June 2023, Jimmy’s Iced Coffee generated a retail sales value of £17m, a 43 per cent on the previous year.
