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Britvic In Talks With Refresco Over Sale Of Three Bottling Facilities In France

Soft drinks maker Britvic Plc (BVIC.L) said Tuesday that its board has entered into exclusive talks with Refresco over the potential sale of Britvic's three juice manufacturing sites in France, its related private label juice business, and the Fruité brand.

Britvic added that the proposed sale is subject to a consultation process with employee representatives that has now been initiated, and is also subject to competition clearance by the French Competition Authority.

Britvic will retain ownership of the Pressade and Fruit Shoot brands that will be manufactured by Refresco as part of a long-term partner arrangement.

The company noted that the transaction will not affect the Teisseire and Moulin De Valdonne brands or the private label syrups business, which are all manufactured at the remaining site in Crolles.

According to Britvic, the value of the transaction is not material and would result in a modest impact on adjusted EBIT. The transaction is expected to be completed in Spring 2020.

Britvic noted that the retained business would be smaller and higher margin, enabling the local management team to focus on building its branded business.

The company will provide an update at the preliminary results announcement on 27 November 2019.

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