vic's new chief executive is set to lay out plans for the soft drinks maker to continue as a standalone company, casting further doubt on its proposed merger with A.G. Barr.Simon Litherland, who took over as Britvic CEO earlier this year, will unveil a revised strategy on Wednesday alongside the company's interim results, Sky News reported on its website.
The new strategy includes plans for tens of millions of pounds in annual cost savings and is not predicated on the merger with A.G. Barr being completed, Sky News said, citing people close to Britvic.
The tie-up between Britvic and A.G. Barr, maker of the popular orange fizzy drink Irn-Bru, was agreed last November but has since run into obstacles.
In February, the Office of Fair Trading referred the deal to Britain's anti-trust watchdog due to competition concerns over certain brands.
Britvic, which produces PepsiCo Inc brands such as Pepsi, Mountain Dew Energy and 7UP in Britain and Ireland, as well as products such as Robinsons squash and Tango, could not be reached for comment outside regular business hours.
