The Competition and Markets Authority (CMA) on Tuesday cleared the anticipated acquisition by Danish brewer Carlsberg of British soft drinks manufacturer.
The CMA launched the merger inquiry on 23 October, following the announcement of the £3.3 billion deal in July.
The companies said they have also received the clearance from the European Commission to proceed with the acquisition, satisfying all regulatory conditions.
The acquisition remains subject to the court's sanction at the sanction court hearing, which has been scheduled to take place on 15 January 2025.
Britvic sells non-alcoholic drinks in Britain, Ireland, Brazil and other international markets such as France, the Middle East and Asia. The company is the main partner for PepsiCo in Britain and Ireland with exclusive rights to manufacture and sell brands including Pepsi, 7UP, and Lipton Ice Tea.
A joint statement at the time said Carlsberg estimated that the deal could deliver annual cost savings and efficiency improvements in the region of £100 million, which it expects to be delivered over the five years following completion of the acquisition.
It said the savings were expected to be realised across a number of areas including direct and indirect procurement, supply chain, administration and overheads across Carlsberg and Britvic's combined business, but that Carlsberg was also committed to invest in Britvic's operations.
