Britvic plc - New and exclusive PepsiCo Bottling Agreement
("Britvic" or the "Company")
Legal Entity Identifier: 635400L3NVMYD4BVCI53
BRITVIC PLC ("BRITVIC") ANNOUNCES NEW AND EXCLUSIVE PEPSICO BOTTLING AGREEMENT
· New 20-year franchise bottling agreement for PepsiCo carbonated brands in
· All plastic bottles in GB to be made entirely from recycled PET by the end of 2022
· FY20 performance - trading anticipated to be slightly ahead of market consensus
Britvic today announces it has reached agreement with PepsiCo for a new and exclusive 20-year franchise bottling agreement for the production, distribution, marketing and sales of its carbonated soft drink brands - including Pepsi, 7UP and Mountain Dew - in
Britvic also announces today its intent for all plastic bottles in GB to be made from 100% recycled plastic (rPET) by the end of 2022 - three years earlier than originally planned, and ahead of the previous target of 50%. This will cover the entire GB portfolio of Britvic-owned and PepsiCo brands, and demonstrates both companies' commitment to sustainability and to a healthier planet.
Commenting on this renewal,
"I am delighted that we have formally extended our relationship with PepsiCo in
The announcement of our intent to move to 100% recycled PET in GB by 2022 is a significant moment for Britvic and our partnership with PepsiCo, demonstrating our joint commitment to protecting the planet today and for future generations. Both Britvic and PepsiCo have sustainability at the heart of their business strategies, and we will continue to work together to deliver on our shared ambition to protect the environment and offer healthier choices in the years ahead."
"We are very pleased to announce this new and enhanced exclusive bottling appointment with Britvic in
More importantly, our shared values have led to sustainability forming an integral part of this new agreement, which includes our latest mutual commitment to ensure that all of our bottles are made from 100% recycled PET by the end of 2022. This is in support of PepsiCo & Britvic's vision of creating a circular economy on plastic and building a world where plastics need never become waste. We very much look forward to the next chapter of our strengthened relationship with Britvic."
Trading Update and Outlook
Following better than expected trading across the peak summer period, Britvic's adjusted EBIT for the full year 2020 is anticipated to be slightly ahead of current market consensus. Trading has benefited from both the limited re-opening of the
Looking forward, the economic outlook for 2021 remains uncertain. The re-introduction of further lockdown restrictions and the impact of social distancing measures on capacity in the hospitality sector will, undoubtedly, continue to have an impact on Britvic's performance in 2021. However, Britvic is confident in its long-term prospects and anticipates rebuilding investment in 2021 behind its long-term growth drivers, including innovation and marketing, as well as its commitment to sustainability through its strategic priority of "Healthier People, Healthier Planet". Britvic is well-positioned to lead the long-term recovery of the category with a portfolio of market-leading, trusted brands, a track record of operational agility and a dedicated and committed team.
Further detail will be communicated in the Preliminary results announcement on the
For further information please contact:
Steve Nightingale (Director of Investor Relations) +44 (0) 7808 097784
Stephanie Macduff-Duncan (Head of Corporate Communications) +44 (0) 7808 097680
Stephen Malthouse (Headland) +44 (0) 7734 956201
Notes to editors
Britvic is one of the leading branded soft drinks businesses in Europe. The company combines its own leading brand portfolio including Fruit Shoot, Robinsons, Tango, J2O, London Essence, Teisseire and MiWadi with PepsiCo brands such as Pepsi, 7UP and Lipton Ice Tea which Britvic produces and sells in GB and Ireland under exclusive PepsiCo agreements.
Britvic is the largest supplier of branded still soft drinks in Great Britain ("GB") and the number two supplier of branded carbonated soft drinks in GB. Britvic is an industry leader in the island of Ireland with brands such as MiWadi and Ballygowan, in France with brands such as Teisseire, Pressade and Moulin de Valdonne and in Brazil with Maguary, Bela Ischia and Dafruta. Britvic is growing its reach into other territories through franchising, export and licensing. Britvic's management team has successfully developed the business through a clear strategy of organic growth and international expansion based on creating and building scale brands. Britvic is listed on the London Stock Exchange under the code BVIC and is a constituent of the FTSE250 index.
Cautionary note regarding forward-looking statements
This announcement includes statements that are forward-looking in nature. Forward-looking statements involve known and unknown risks, uncertainties and other factors including as a consequence of the Covid-19 pandemic, which may cause the actual results, performance or achievements of the group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by the Listing Rules and applicable law, Britvic undertakes no obligation to update or change any forward-looking statements to reflect events occurring after the date such statements are published.
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