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Britvic Plc Q3 Revenue Up 1.0%; Announces Acquisition Of Ebba, Brazil

Britvic plc (BVIC.L) reported Group revenue of 322.3 million pounds for the twelve weeks to 5 July, an increase of 1.0% on last year, driven by a volume increase of 2.0%. Britvic said the Group remains confident of delivering EBIT in the previously stated guidance range of 164 million pounds to 173 million pounds in 2015.

Separately, the Board of Britvic plc announced the acquisition of Empresa Brasileira de Bebidas e Alimentos SA, or ebba, a high quality independent soft drinks company in Brazil. The transaction provides Britvic with immediate access to the sixth largest soft drinks market and the largest concentrates market globally. The enterprise value of ebba is 120.8 million pounds, with an effective acquisition cost of 113.6 million pounds, payable in two tranches.

Britvic said it has clear plans to drive revenue growth and to at least double EBITDA by 2020, alongside an opportunity for significant margin expansion. Britvic expects EBITDA to be broadly flat in 2016 and 2017 compared to 2015 before increasing from 2018 onwards.

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