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Britvic signs Pepsi bottling agreement; sees 'slightly higher' annual earnings
StockMarketWire.com
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Soft drinks maker Britvic said it had reached an exclusive 20-year franchise bottling agreement with PepsiCo to produce and sell its carbonated soft drink brands including Pepsi, 7UP and Mountain Dew, in the UK.
The new agreement extended a relationship that commenced in 1987 to 31 December 2040 and included the Rockstar energy brand, for which Britvic would take responsibility from 1 November this year.
Britvic also provided an update on performance, which it said would continue to be hurt by renewed lockdowns.
However, adjusted earnings before interest, taxes, depreciation and amortisation, for 2020 was expected to be 'slightly ahead' of current market consensus.
The company's year-end adjusted net debt balance was expected to be abouty £40 million-to-£50 million lower than last year, reflecting 'disciplined cash management'.
Story provided by StockMarketWire.com
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