Wed, 05 May 2021 | BUSINESS SALE
Britvic plc has announced the acquisition of plant-based drinks brand Plenish for an undisclosed sum. Plenish, which was founded in 2012, is one of the UK’s fastest growing plant-based drinks brands. It produces a range of organic, plant-based drinks including plant-based milks and cold-pressed juices.
Britvic says that the acquisition reflects its strategy of developing a diverse soft-drinks brands portfolio and its sustainable business programme, Healthier People, Healthier Planet. Britvic adds that it will use its experience in scaling brands to help unlock Plenish’s full potential.
The company said: “The transaction is closely aligned with Britvic’s strategy of building a portfolio of soft-drinks brands for every consumer occasion and its focus on accessing new spaces in the soft drinks category.”
“Britvic has a long track record of successfully leveraging its scale and capabilities to grow its brands, and it will draw on this experience to fulfil the full potential of Plenish.”
Plant-based drinks are among the fastest growing food segments, with companies including PepsiCo and Coca-Cola expanding into the sector in recent years. Plant-based milks, especially, are growing in popularity rapidly, with retail sales set to reach more than £500 million by 2024. Non-soya plant-based milks have seen more than tenfold growth in the past decade.
Britvic CEO Simon Litherland said: “We are confident that the strength of our relationships with retailers, supply chain and distribution reach will fuel further momentum for the brand and provide a platform for its expansion and long-term growth.”
Plenish Founder Kara Rosen added: “I'm so excited for Plenish to join forces with Britvic. Together we can reach more people in more places with products and programmes that help you feel good, made in a way that you can feel good about.”
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