These British émigrés all go down rather well in the US, and Britvic’s CEO now claims that soft drink Fruit Shoot is growing the $200m kids’ single-serve category where native brands fall short.
Britvic finance director John Gibney told City analysts this morning that losses of ₤16.9m due to this year’s Fruit Shoot recall could extend to ₤25m in 2013 due to associated litigation.
One industry source tells BeverageDaily.com that Britvic could be a takeover target following its ‘Magicap’ Fruit Shoot recall debacle, but doubts whether Unilever or Diageo would be likely suitors.
Weather woes, UK promotional pressure and the gravity of Britvic’s Fruit Shoot recall due to flawed packaging design have put a dampener on the firm’s stock rating with analysts.
Britvic revealed today that it suspects there may be a 'design issue' with a new packaging cap design that led to a massive Fruit Shoot beverage recall last Tuesday, and predicts the crisis could now cost it between £15m and £25m.
A packaging fault that has triggered the recall of millions of bottles of a fruit drink targeted at children is set to cost manufacturers Britvic up to £5m (€6.2m), said the company.
Britvic Soft Drinks is recalling all bottles of a fruit drink in Great Britain targeted at young children because of a “packaging safety issue” with the product’s novel cap closure.
UK-based drinks producer Britvic has revealed a new distribution agreement with PepsiCo bottler to distribute kids still drinks brands Fruit Shoot J20 in Texas, but says acquisitions are unlikely this year due to macroeconomic uncertainty.
UK beverage firm Britvic announced today that it had signed three major distribution deals in the US, as it pursues international growth for its brand portfolio via a ‘three-pronged’ strategy.