The drinks manufacturer planned to leverage its existing customer relationships to drive new listings and increase distribution, supported by Britvic’s supply chain expertise and procurement capability.
Commenting on the acquisition, Britvic chief executive Simon Litherland said: “We are thrilled to welcome Jimmy’s Iced Coffee to our portfolio of much-loved Britvic brands. The focus on innovation, great taste with fewer calories, and fully recyclable packaging makes Jimmy’s a perfect fit for Britvic.
Expanding position in iced coffee market
“We have a long track-record of acquiring and developing brands, and I am confident in our ability to quickly expand our position in the iced coffee category – which is an exciting and fast-growing market segment.”
Founded by brother and sister team Jim Cregan and Suzie Owen in 2010, Jimmy’s Iced Coffee now has more than 10,000 distribution points (IRI category data) and reported sales of £17m in the year to June 2023 – up 43% from the previous year.
Cregan and Owen will continue to be involved in the business as ambassadors for the brand, helping to support the transition while providing advice on brand direction and future innovation.
Next step in Jimmy’s journey
Jim Cregan, Co-founder of Jimmy’s Iced Coffee, added: “We are so delighted with this deal which is the culmination of twelve years of monumental hard work by my sister and I. We have poured our heart and souls into making this business what it is today and we feel so fortunate that Britvic is now able to take Jimmy’s to places about which we could only dream.
“We are excited to watch the next chapter of the journey unfold and look forward to Jimmy’s Iced coffee becoming even more well known and enjoyed.”
The transaction will be financed from existing internal resources and external debt facilities. The Jimmy’s team was advised by Piper Sandler on this transaction.
Meanwhile, last month saw Dawn Meats sell its share of French beef processor Elivia to majority shareholder Terrena, following a difference in vision for the future of the business.