Market is abuzz with the news that there are chances of makers of top fizzy drinks Tango and Irn-Bru joining hands. They are talking about a potential merger worth £1.4billion, which might change future course for both the makers.
With the news hitting the financial market, shares of both the companies, Scotland’s AG Barr, which makes Irn-Bru, and Essex-based Britvic, which makes Tango, saw some change. It was seen that shares of Britvic rose by 12%, while AG Barr moved up by 4%.
"In our view, the AG Barr management team have a very strong track record and would add significant strength to Britvic from both an operational and financial performance perspective”, said Canaccord Genuity analyst Wayne Brown. It is believed that this merger could pop out strong soft drinks companies in European market backed with a popular mix of market leading brands.
It has further been told that Bare for the last 130 years has been producing Irn-Bru from a secret recipe, while Britvic was making Robinsons, J2O and Pepsi, via licence. There is no doubt that both the companies would get benefitted from the merger, market investors would surely be waiting for the final news with bated breath.
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