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Britvic Buys Plant-based Nutrition Brand Plenish; Financial Terms Not Disclosed

Britvic plc (BVIC.L), a plant-based drinks brand, announced Tuesday the acquisition of Plenish, which offers a range of organic, clean label, plant-based beverages across plant-based milks, cold-pressed juices and functional shots. The financial terms of the deal were not disclosed.

Plenish, which was founded in 2012 as a direct-to-consumer brand, has since expanded into retail distribution. Kara Rosen, the founder of Plenish, and her team will join Britvic.

Britvic expects the acquisition of Plenish brand, which uses ingredients sourced from sustainable, organic farms and no additives, gives it access to a fast-growing category. The acquisition is directly aligned to the group strategic priorities of Accessing New Spaces and Healthier People, Healthier Planet.

The company said the deal is strategically important, but the immediate value of the transaction is not material enough to impact adjusted EBIT in 2021.

Rosen said, "I started Plenish nine years ago in my kitchen to help make it easy and delicious for people to improve their health and make a positive impact for the planet. Our plant-based drinks are still made like I originally made them at home - with best in class ingredients sourced from sustainable, organic farms and no additives."

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