Mid-Essex soft drinks firm Britvic has announced its intention to float on the London Stock Exchange.
The Chelmsford-based company, which has a head office in Broomfield Road and has grown to become the UK's second largest soft drinks retailer, said yesterday it could be listed on the stock exchange by the end of the year.
Media manager Julian Mears said three of Britvic's key shareholders - Whitbead, Pernod Ricard, and Inter-Continental Hotels - would sell their shares, leaving Pepsico, its other shareholder, with a five per cent stake in the company.
Yesterday's announcement kick-started the first stage of process which will see the company make preparations for the bid before publishing a prospectus containing the company's details.
It is not yet known what the estimated starting price could be. Mr Mears said the company was worth between £700m and £800m.
It makes drinks like J2O, Pepsi and Tango at Chelmsford's Widford industrial estate, and other factories in Norwich, Leeds, Hartlepool, Huddersfield, Becton and Rugby.
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Published Tuesday, November 15, 2005
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