PepsiCo sells stake in its UK bottler Britvic

 
Helen Cahill
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Pepsi has long held a stake in its partner Britvic (Source: Getty)

PepsiCo is selling its 4.5 per cent stake in Britvic as it ploughs on with cost-cutting in the business.

Britvic acts as PepsiCo's bottler in the UK, and PepsiCo said its was intending to continue the "mutually beneficial relationship".

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PepsiCo is set to make £85m from selling its 11.8m Britvic shares. The US drinksmaker is currently undertaking a $5bn cost-cutting programme.

Simon Litherland, Britvic's chief executive, said: "We have been the sole bottling partner for PepsiCo in Great Britain for the last 30 years and in that time we have delivered significant growth for PepsiCo, led by Pepsi Max, and successfully expanded our bottling agreement into new categories.

"Both Britvic and PepsiCo are committed to continuing to build on the success we have achieved to date into the future."

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