BRITVIC : C & C SOFT DRINKS

This looks a smart deal at a fair price. It would be difficult to find a better fit. The two companies have been long standing distribution partners. PepsiCo will gain a stronger unified franchisee for the whole United Kingdom and Republic of Ireland. Ballygowan will add a necessary boost to Britvic's water range. The acquisition also gives Britvic a better chance to shape its own destiny and fulfil further expansion potential. It coincides with a radical repositioning of Tango as a more natural soft drink. Several of Britvic's brands are already sold internationally; the C & C portfolio and a revamped Tango provide further opportunities.