Drinks group Britvic today said it has agreed to buy some of Ireland's leading brands, including Ballygowan bottled water, in a deal worth nearly €250 million.
The deal with Magners cider owner C&C also adds soft drinks range Club and Miwadi and the franchise for distributing 7Up and Pepsi products in Ireland. Britvic hopes to complete the deal by the end of August.
C&C will be left to concentrate on its cider and spirits and liqueurs brand portfolio, which includes Irish whiskey Tullamore Dew.
It will receive €249 million for the soft drinks arm, which C&C chief executive Maurice Pratt said reflected the operation's "iconic brands and strong position in the Irish beverage market".
Last week, C&C posted a 77 per cent rise in annual profits to €212.6 million, as Magners sales volumes grew by 232 per cent in the United Kingdom.