Drinks manufacturer and supplier Britvic has announced a deal to acquire Brazilian juice company Bela Ischia for £54.4m.
The company based in Rio de Janeiro and Minas Gerais produces juices, liquid concentrates and powder concentrates has been named in an agreement expected to complete by the end of March 2017
This is the second acquisition in Brazil by the drinks giant following a previous buy out of Ebba, another Brazilian concentrates business, in September for £114m.
Simon Litherland, chief executive of Britvic, said: “The proposed acquisition of Bela Ischia represents an exciting opportunity to build on our very strong first year in Brazil with further expansion of our presence in a large and growing soft drinks market.”
Shares in Britvic, a FTSE 250 company, rose more than 1% on yesterday morning, to 574p a share.