[QUOTE]Soft drink rivals AG Barr and Britvic have agreed the terms of a merger which creates one of Europe's largest soft drinks companies.
Irn Bru maker AG Barr and Tango producer Britvic opened discussions about a merger in September.
The new combined company will be called Barr Britvic Soft Drinks plc and will have annual sales of more than £1.5bn.
The merger is likely to see about 500 jobs cut from combined headcount of just over 4,000 people.
The takeover panel had given the companies an extended deadline of 28 November to announce their intentions.
The merger ratio will leave Britvic shareholders with approximately 63% of the new company and AG Barr shareholders with 37%.
In a statement, Britvic non-executive chairman Gerald Corbett said: "The (all-share) merger of AG Barr and Britvic will create a world-class soft drinks company."
He added: "AG Barr and Britvic are a fantastic fit with complementary strengths and we will benefit from very significant synergies."
The job of chief executive will go to Roger White, who is currently the boss of AG Barr.
The head office of Barr Britvic will be in Cumbernauld, which will also be its registered office, while the new group's operational headquarters will be located at Britvic's existing head office in England.
The firms were originally due to announce their bid intentions by the beginning of October but were granted extensions after stating that talks were ongoing.
A Britvic statement added: "The boards of AG Barr and Britvic believe that the combined group will be able to achieve recurring annual cost synergies of approximately £35m."
Cumnernauld and Kilysth SNP MSP Jamie Hepburn welcomed the news that the merged company's head office would be in Cumbernauld but said "clarity was now needed" on how many of the 500 proposed jobs cuts would be in Scotland.
Mr Hepburn said: "It is a positive development that the new company want to retain their base in Cumbernauld, obviously seeing the business benefits of remaining head-quartered north of the border.
"What everyone will now be looking for is clarity on is where the job losses will be coming from. With the group's operational headquarters planned to at Britvic's existing head office in England, this creates some doubt."
The MP for Cumbernauld, Kilsyth and Kirkintilloch East, Gregg McClymont, said: "I welcome the news that the Barr Britvic HQ will be in Cumbernauld, but I am urgently seeking a meeting with Roger White, chief executive of AG Barr, to discuss what this merger means for jobs at the Cumbernauld HQ.
"MP for Cumbernauld, Kilsyth and Kirkintilloch EastBarr's is one of Cumbernauld's biggest employers and those that work there need reassurance about the security of their job."[/QUOTE]
[url]http://www.bbc.co.uk/news/uk-scotland-scotland-business-20322017[/url]
Well as long as they don't start selling our glorious national drink Irn Bru to those damn Europeans!
[QUOTE=dunkace;38449106][url]http://www.bbc.co.uk/news/uk-scotland-scotland-business-20322017[/url]
Well as long as they don't start selling our glorious national drink Irn Bru to those damn Europeans![/QUOTE]
ive seen irn bru in qatari stores
did i just shatter your world?
I hope this means more Irn Bru in the US. Importing it from the UK is a pain.
[QUOTE=Conspiracy;38449118]ive seen irn bru in qatari stores
did i just shatter your world?[/QUOTE]
Yes... I hope your happy.
At first I thought I had a stroke when I read that title
What's Irn Bru?
[QUOTE=Scrimp;38449372]What's Irn Bru?[/QUOTE]
A pretty nice drink, it's rust coloured and tastes really nice, though I can't actually describe the flavour, it's kind of unusual.
[QUOTE=Terminutter;38449390]A pretty nice drink, it's rust coloured and tastes really nice, though I can't actually describe the flavour, it's kind of unusual.[/QUOTE]
Oh that scottish one, I thought it was called Ion Brew.
At first I thought it said Bird Flu then some random drunk gibberish
I read that title and I thought it was just Scottish gibberish for a second :v:
Irn Bru chewy bars are the bomb.
[QUOTE=Scrimp;38449372]What's Irn Bru?[/QUOTE]
The life blood of the Scottish people.
[QUOTE=catbarf;38449149]I hope this means more Irn Bru in the US. Importing it from the UK is a pain.[/QUOTE]
First world problems
[b][i]TO THE MAX!!![/i][/b]
[QUOTE=Ricool06;38449479]Irn Bru chewy bars are the bomb.[/QUOTE]
I've not seen them in years, can you still buy them?
[QUOTE=Scotchair;38450145]I've not seen them in years, can you still buy them?[/QUOTE]
I don't think so, the company that made them went bust.
[QUOTE=Scrimp;38449407]Oh that scottish one, I thought it was called Ion Brew.[/QUOTE]
That's an Akira Kiteshi tune.
[QUOTE=catbarf;38449149]I hope this means more Irn Bru in the US. Importing it from the UK is a pain.[/QUOTE]
We used to have that problem with Mountain Dew over in the UK; then along came Mountain Dew Energy to British stores. Now us Brits have easy access to the dew of the mountain, now the Americans shall be granted the secrets of the brew of iron.
I like both, but I started out with Irn Bru; an iron brew for an iron man.
[QUOTE=ironman17;38452889]We used to have that problem with Mountain Dew over in the UK; then along came Mountain Dew Energy to British stores. Now us Brits have easy access to the dew of the mountain, now the Americans shall be granted the secrets of the brew of iron.
I like both, but I started out with Irn Bru; an iron brew for an iron man.[/QUOTE]
Except Mountain Dew Energy doesn't have shit on a chilled imported REAL Mountain Dew.
Also Irn Bru is fucking delicious but I can never find the cans in stores around here in England.
[QUOTE=Scrimp;38449407]Oh that scottish one, I thought it was called Ion Brew.[/QUOTE]
ion brew is an incredible name for an alcoholic drink
though irn bru is beautiful already
They better not arse around with Scotland's national beverage and hangover cure.
Have the Britvic guys ever been to Cumbernauld? It makes Mordor look like Mayfair.
[QUOTE=El Burro;38455098]Have the Britvic guys ever been to Cumbernauld? It makes Mordor look like Mayfair.[/QUOTE]
I live there ya cunt!
It's a very nice and friendly place.
[QUOTE=Scotty.;38455244]I live there ya cunt!
It's a very nice and friendly place.[/QUOTE]
Soapdodger.
Love the Soviet Russia themed bus station.
[QUOTE=Scrimp;38449372]What's Irn Bru?[/QUOTE]
A Scottish soft drink that tastes like a mix of tangerine, bubblegum, and ginger ale.
there's a store not far from me that sells IRN BRU. (I'm in Florida btw)
That stuff is delicious. Tastes like stuff. definitely stuff.
[QUOTE=Dracon;38458487]there's a store not far from me that sells IRN BRU. (I'm in Florida btw)
That stuff is delicious. Tastes like stuff. definitely stuff.[/QUOTE]
It's great stuff. We need more American soft drinks over here in Scotland though, there's a specialty shop near me that sells grape Fanta, that stuff's delicious.
[media]http://www.youtube.com/watch?v=H4PxuFQCDis[/media]
Made In Scotland, From Girders.
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