Britvic auction continues

A number of bidders including CVC Capital Partners are thought to remain keen on the UK beverage maker.

European private equity firm CVC Capital Partners is thought be working on a second round bid for Britvic, the UK maker of soft drinks. Alongside Lehman Brothers, the investment bank, CVC is understood to be backing Miles Templeman.

The Templeman bid is likely to face competition from food concern RHM, according to the Financial Times. Hicks, Muse, Tate & Furst may also participate.
is owned by Six Continents and Allied Domecq, PepsiCo and Whitbread. The group has brands including Robinsons and Tango. It is expected to fetch up to £600m (E979m).

The company’s relationship with PepsiCo is potentially significant. Britvic distributes Pepsi products under licence in the UK. Pepsi Bottling Group may thus have a strong interest in acquiring the business.

The deadline for submitting a second round bid is September 4.