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Company Overview | Board of Directors | Management Team | Milestones Exports | The Origin of 'Eat Healthy Think Better' The

story of one of India's favourite brands reads almost like a fairy tale. Once upon a time, in 1892 to be precise, a biscuit company was started in a nondescript house in Calcutta (now Kolkata) with an initial investment of Rs. 295. The company we all know as Britannia today. The beginnings might have been humble-the dreams were anything but. By 1910, with the advent of electricity, Britannia mechanised its operations, and in 1921, it became the first company east of the Suez Canal to use imported gas ovens. Britannia's business was flourishing. But, more importantly, Britannia was acquiring a reputation for quality and value. As a result, during the tragic World War II, the Government reposed its trust in Britannia by contracting it to supply large quantities of "service biscuits" to the armed forces. As time moved on, the biscuit market continued to grow and Britannia grew along with it. In 1975, the Britannia Biscuit Company took over the distribution of biscuits from Parry's who till now distributed Britannia biscuits in India. In the subsequent public issue of 1978, Indian shareholding crossed 60%, firmly establishing the Indianness of the firm. The following year, Britannia Biscuit Company was re-christened Britannia Industries Limited (BIL). Four years later in 1983, it crossed the Rs. 100 crores revenue mark. On the operations front, the company was making equally dynamic strides. In 1992, it celebrated its Platinum Jubilee. In 1997, the company unveiled its new corporate identity - "Eat Healthy, Think Better" - and made its first foray into the dairy products market. In 1999, the "Britannia Khao, World Cup Jao" promotion further fortified the affinity consumers had with 'Brand Britannia'. Britannia strode into the 21st Century as one of India's biggest brands and the pre-eminent food brand of the country. It was equally recognised for its innovative approach to products and marketing: the Lagaan Match was voted India's most successful promotional activity of the year 2001 while the delicious Britannia 50-50 Maska-Chaska became India's most successful product launch. In 2002, Britannia's New Business Division formed a joint venture with Fonterra, the world's second largest Dairy Company, and Britannia New Zealand Foods Pvt. Ltd. was born. In recognition of its vision and accelerating graph, Forbes Global rated Britannia 'One amongst the Top 200 Small Companies of the World', and The Economic Times pegged Britannia India's 2nd Most Trusted Brand. Today, more than a century after those tentative first steps, Britannia's fairy tale is not only going strong but blazing new standards, and that miniscule initial investment has grown by leaps and bounds to crores of rupees in wealth for Britannia's shareholders. The company's offerings are spread across the spectrum with products ranging from the healthy and economical Tiger biscuits to the more lifestyle-oriented Milkman Cheese. Having succeeded in garnering the trust of almost one-third of India's one billion population and a strong

management at the helm means Britannia will continue to dream big on its path of innovation and quality. And millions of consumers will savour the results, happily ever after.

MARKETING STRATEGY OF BRITANNIA


Eat Healthy. Think Better. Buy Britannia The 80-year-old biscuit king is reinventing itself. Britannia now wants to become a foods giant, with the newly-added tag of health and nutrition. What's more, with a clever formula of prices and products, it is targeting every segment of the Indian market. Who does not know Britannia Rules! During period of A day before the World Cup Of Cricket 1999 began in England on May 14, 1999, one of Britannia Industries' senior-most marketing managers was spotted at Mumbai's Sahara International Airport-escorting a gaggle of excited children, all of them sporting Britannia caps, Britannia T-shirts, and other assorted Britannia paraphernalia. No, he wasn't test-positioning yet another brand of biscuits on a group of unsuspecting young 'uns in an airport lounge. Those kids were actually some of the 100 megawinners of the Britannia Khao, World Cup Jao contest, being flown off on charters to Old Blighty to watch the World Cup at Britannia's expense. See Cricket. Sleep Cricket. Eat Only Britannia (sic!) so we can say that, this session is more powerful to catch the customer. The marketing strategies for any company are not about a fixed concept. Rather it is full of new challenges every day, and the companies must respond to it very positively. The market process is applicable to more than goods and services. Anything related to market including ideas, events, policies, prices and personalities comes under market strategy. However it is important to emphasize opportunity in the market through market strategy.

The following strategies are basically adopted by Britannia in order to capture a good market share. 1. A strong quality of the product and customer satisfaction: General customers are basically concerned about the quality of product rather than the price of the product. In our survey we found that basically people are first looking for the quality. If good quality is there in the product then they are only looking for the price. But if the quality is not satisfactory they even dont looking about the pricing of the product. In this regard Britannia always maintained much more importance over there product quality. Thats why they are among the very successful brand of today. 2. A growing relationship with customer and customer retention: Now-a- days a good relation with the customer is very important for organization. Sale is totally depending on the relation with the customers. Customer's retention is also a major aspect for growing business. It means keep the old customer and try to make new customer. Britannias customer relationship management is very strong which is one of the major causes of selling of their product continuously. 3. Focus on competitors activity: Every organization should must be careful about it's competitors step, because they can disturb the growing sales process of the organization. Continuous watching over competitors strategies and development help Britannia a lot. 4. A growing emphasis on global thinking and local marketing planning: Companies are increasing by pursuing market beyond their borders. When they enter other countries they must follow the tradition of that country and also they make plan for local market that which type of product has more demand and how can it run in the market. 5. A growing emphasis on global thinking and local marketing planning: Companies are increasing by pursuing market beyond their borders. When they enter other countries they must follow the tradition of that country and also they make plan for local market that which type of product has more demand and how can it run in the market. For Britannia

different variation in their product depending over various locations and the economic status of the people is being very much helpful for the company. 6. Promotional Strategy Under the market strategy promotional idea is very important. Organization provides some schemes or rebates to retailers or consumers. They make advertisement according to convenient of the people and the feature of the product. Sometimes Britannia comers to market with new offerings and of course with cost benefits to the customers. Giving discounts over bulk purchase also comes under this strategy.

Britannia Industries
From Wikipedia, the free encyclopedia Britannia Industries Limited

Type Industry Founded

Public (BSE: 500825 NSE: BRITANNIA) Food processing 1892

Headquarters Kolkata, West Bengal, India Number of locations Area served Key people Products 300 stores (2000) India Nusli Wadia, (Chairman) Vinita Bali, (MD) Dairy products, biscuits, water, baby food

Revenue

4,670 crore (US$1.03 billion) (2011)[1] 134 crore (US$29.48 million) (2011)[1] Groupe Danone Wadia Group www.britannia.co.in

Profit

Parent Website

Britannia Industries Limited (BSE: 500825, NSE: BRITANNIA) is an Indian food-products corporation based in Kolkata, West Bengal, India. It is famous for its Britannia and Tiger brands of biscuit, which are popular throughout the country. Britannia has an estimated 38% market share.[2] The Company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products.

Contents
[hide] 1 History 2 Growth and profitability 3 Business 3.1 Dairy products 3.1.1 Joint venture with New Zealand Dairy 3.2 Biscuits

4 Ownership and relationship between major shareholders 5 See also 6 References 7 External links

[edit] History
The company was established in 1892, with an investment of Rs. 295.[3] Initially, biscuits were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by the Gupta brothers mainly Nalin Chandra Gupta, a renowned attorney,and operated under the name of "V.S. Brothers." In 1918, C.H. Holmes, an English businessman in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched. The Mumbai factory was set up in 1924 and Peek Freans UK, acquired a controlling interest in BBCo. Biscuits were in big demand during World War II, which gave a boost to the companys sales. The company name finally was changed to the current "Britannia Industries Limited" in 1979. In 1982 Nabisco Brands Inc., USA became a major foreign shareholder.

Kerala businessman K. Rajan Pillai secured control of the group in the late 1980s, becoming known in India as the 'Biscuit King'. In 1993, the Wadia Group acquired a stake in ABIL UK, and became an equal partner with Groupe Danone in Britannia Industries Limited. In what The Economic Times referred to as one of [India's] most dramatic corporate sagas,[4] Pillai ceded control to Wadia and Danone after a bitter boardroom struggle,[5] then fled his Singapore base to India in 1995 after accusations of defrauding Britannia, and died the same year in Tihar Jail.[6] With all these inspiring history, Britannia has reached every households of India reaching the top 100 Most Trusted brands listed in The Brand Trust Report by Trust Research Advisory.

[edit] Growth and profitability


The company is growing at a steady rate, and is currently profitable. Between 1998 and 2001, the company's sales grew at a compound annual rate of 16% against the market, and operating profits reached 18%. More recently, the company has been growing at 27% a year, compared to the industry's growth rate of 20%. At present, 90% of Britannias annual revenue of Rs2,200 crore comes from biscuits.

[edit] Business

[edit] Dairy products


Dairy products contribute close to 10 per cent to Britannia's revenue.[7] Britannia trades and markets dairy products, and its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02. Britannia holds an equity stake in Dynamix Dairy and outsources the bulk of its dairy products from its associate. Its main competitors are Nestl India, the National Dairy Development Board (NDDB),and Amul GCMMF)[8]
[edit] Joint venture with New Zealand Dairy

On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company from procurement of milk to making value-added products such as cheese and buttermilk.[8] Britannia planned to source most of the products from New Zealand, which they would market in India.[7] The joint venture will allow technology transfer to Britannia.[8] Britannia and New Zealand Dairy each holding 49% of the JV, and the remaining 2 per cent held by a strategic investor. Britannia has also tentatively announced that its dairy business would be transferred and run by the joint venture.[8] The authorities' approval to the joint venture obliged the company to start manufacturing facilities of its own. It would not be allowed to trade, except at the wholesale level, thus pitching it in competition with Danone, which had recently established its own dairy business.[8]

[edit] Biscuits

Britannia Little Hearts

The company's factories have an annual capacity of 433,000 tonnes.[2] The brand names of biscuits include VitaMarieGold, Tiger, Nutrichoice Junior,Good day, 50 50, Treat, Pure Magic, Milk Bikis, Good Morning, Bourbon, Thin Arrowroot, Nice, Little Hearts and many more. Tiger, the mass market brand, realised $150.75 million in sales including exports to countries including the U.S. and Australia, or 20% of Britannia revenues in 2006. The company alleged that Danone has violated its intellectual property rights in the Tiger brand by registering and using Tiger in several countries in 2006 without the consent of the Britannia Board. Managing Director Vinita Bali claims the company found out in 2004 Danone launched the Tiger brand in Indonesia in 1998, and later in Malaysia, Singapore, Pakistan and Egypt when it attempted to register the Tiger trademark in some of these countries.[9] Whilst it was initially reported in December 2006 that agreement had been reached,[10] it was reported in September 2007 that a solution remained elusive.[9] In the meantime since Danone's biscuit business has been taken over by Kraft, the Tiger brand of biscuits in Malaysia has been renamed Kraft TiGER Biscuits beginning September 2008. Britannia initiated legal action against Danone in Singapore in September 2007.[11] The dispute was resolved with Danone paying Rs 220 million to utilise the brand, and Britannia securing legitimate right to use the Tiger brand worldwide.[12]

[edit] Ownership and relationship between major shareholders


The Wadias' Kalabakan Investments and Groupe Danone have two equal joint venture companies, Wadia BSN and UK registered Associated Biscuits International Holdings Ltd., which together hold 51 per cent stake in Britannia.[13] The ABIH tranche was acquired in 1992, while the controlling stake held by Wadia BSN was acquired in 1995. It was agreed that, in case of a deadlock between the partners, Danone is obliged to buy the Wadia BSN stake at a "fair market value". ABIH which has a separate agreement signed in 1992 and is subject to the British law.[13] [14] Wadia was to be Danone's partner in the food and dairy business, and product launches from Groupe Danones were expected but never materialised despite the JV being in existence for over 11 years in India.[13] Under the 1995 joint venture agreement, Danone is prohibited from launching food brands within India without the consent of the Wadias.[15] In addition, the partners agreed there would be the right of first refusal to buy out the remaining partner in the event of the other wishing to sell its holding.[16] In May 2007, Nusli Wadia told the Ministry of Commerce and Industry that Danone invested in a Bangalore-based bio nutrition company, Avesthagen, in October 2006 in violation of the government's Press Note 1, 2005, which requires a foreign company to obtain the consent of its Indian joint venture partner before pursuing an independent business in a similar area, including joint ventures based purely on technical collaboration. Danone argued that Press Note 1 did not apply to it as it did not have a formal technology transfer or trademark agreement with Avesthagen, and that its 25 pct holding in Britannia was indirect.[17] Wadia also filed a case in the Bombay High Court for a breach of a non-compete clause in that connection. The court ordered Danone not to alienate, encumber or sell shares of Avestagen.[18] In September 2007, the Foreign Investment Promotion Board of India rejected Danone's claims that it does not need a non-compete waiver from the Wadias to enter into business in India alone.
[19]

In June 2006, Wadia claimed Danone had used the Tiger brand to launch biscuits in Bangalore.
[16]

After a prolonged legal battle, Danone agreed to sell its stake in Britannia and get out of this line of business. Danone will sell its 25.48% stake to Leila Lands, which is a Wadia group entity based in Mauritius. The deal is valued to be at $175200 m. With this buy-out, Wadia's will hold a majority stake of 50.96%.[20]

Marketing Strategy of Britannia Soft Drinks Ltd. (Britvic) - December 13th, 2010 Statistics: Private Company Founded: Mid-1800s as British Vitamin Products Company Sales: 600 million ($1.1 billion) (2004) NAIC: 312111 Soft Drink Manufacturing Company Perspectives: Our vision is to be the UK's leading soft drinks company. Key Dates: 1938: British Vitamin Product Company (Britvic), originally founded in the mid-19th century to produce soft drinks, develops a method for bottling fruit juices without preservatives; production is suspended at the outbreak of World War II. 1945: Britvic begins construction on a new processing and bottling facility, then the largest in the world. 1949: The Britvic fruit juice brand is relaunched. 1954: Vine Products, maker of Babycham, among other beverages, acquires Britvic; the company later becomes part of the Allied Breweries group in the late 1960s. 1971: The company changes its name to Britvic Limited. 1972: The company launches mixer soft drinks. 1973: A draught version of the company's soft drinks is launched. 1977: Britvic 55, a pub-only adult soft drink, is launched. 1982: The company acquires the U.K. license for the Dr. Pepper brand. 1985: Castlemaine Tooheys acquires 50 percent of Britvic. 1986: Castlemaine Tooheys sells its stake in Britvic to Bass, which merges Britvic with its other soft drink holdings, including Britannia Soft Drinks and Canada Dry Rawlings, as Britvic Soft Drinks Limited; Britvic acquires the Tango soft drink brand. 1987: Britvic acquires the U.K. license for Pepsi and 7Up. 1994: Britvic acquires the U.K. license for Liptonice. 1995: Britvic acquires Robinsons, maker of the Barley Water soft drink. 2000: Britvic acquires Orchid Soft Drinks, maker of adult drinks Am, Aqua Libra, and Purdey's. 2002: Britvic acquires the Red Devil energy drink. 2004: Britvic announces its plan to list on the London Stock Exchange in 2005. 2005: Britvic announces its decision to suspend the public offering.

Company History: Britannia Soft Drinks Ltd. is the holding company for its more well-known business, Britvic, the number two-selling soft drinks company in the United Kingdom. Britvic commands a strong stable of brands, including the Britvic fruit juices and mixers lines. The company also holds the franchises for producing and bottling Pepsi Cola and 7Up in the United Kingdom. Other prominent national and regional brands include Robinsons, R Whites lemonades, the youthoriented Tango brand, and J20, targeting the 18- to 45-year-old segment. Britvic has been making acquisitions in the first half of the 2000s in order to boost its portfolio. In 2000, for example, the company acquired Orchard Drinks and Purdey's, followed by the purchase of Red Devil, an "energy" drink, in 2002. At the end of 2004, the company boosted its profile in the fastgrowing bottled water market with the purchase of the Ben Shaws water division of soft drinks maker Birkby. Britvic itself is controlled by the Intercontinental Hotels Group, which owns 50 percent, as well as minority investors Allied Domecq and Whitbread, each holding 23.75 percent. PepsiCo Inc. owns the remainder of the company. Britvic called off its planned 2005 initial public offering, although the company was committed to launching a public offering before 2008. In 2004, Britvic's sales reached approximately 600 million ($1.1 billion). Pharmacist Origins in the 19th Century Britvic originated as a pharmacy side business in Chelmsford, in Essex, England, in the mid-19th century. The Victorian era, and a prevailing hostility toward alcoholic beverages, encouraged the development of a whole new range of so-called "soft drinks." Many of the new beverages used carbon dioxide injected into water, a method developed toward the end of the 18th century and popularized by Schweppes in London. The rising popularity of "effervescent" drinks in the mid-19th century coincided with the development of new bottle-stopping technologies and early industrialized production techniques. At the same time, the appearance of early advertising methods enabled many beverages to achieve a certain degree of recognition, even on a national scale. A large number of drinks makers, many of them pharmacists with laboratory experience, began developing their own soft drink recipes, mixing fruit juices, sugar, and other ingredients. Pharmacists were especially drawn to the development of healthful beverages, such as tonics and other soft drinks. Although a few beverages managed to achieve a degree of recognition on a national level, many others became solid regional or local favorites. The British Vitamin Products Company, as the Chelmsford business became known, developed a broad range of soft drinks through the end of the 19th century and into the 20th century. In addition to the highly popular lemonades, the company developed its own tonic recipes, and also produced nonalcoholic ales. The company also began bottling and selling mineral waters. The company's transition to its modern form began toward the middle of the 20th century. By the 1930s, the British Vitamin Products Company had come under the leadership of Ralph Chapman. Recognizing that the Depression era had begun to take a toll on the health of his soft drink customers, Chapman conceived of a means of bottling fruit juices in order to supply muchneeded vitamin C at affordable prices. In 1938, Chapman began packaging fruit juices in small

bottles, using a method that enabled him to bottle juices without the need for preservatives. Consumer response was immediately favorable, and Chapman began plans for a wider rollout of the bottled juice line. Yet the outbreak of World War II halted the company's plans. Restrictions were put into place not only on the sale of fruit juices, but, as part of the sugar rationing effort, on the soft drink industry in general. During the war, the government rationalized the soft drink industry, nationalizing the sector and establishing a narrow field of just six permitted "standard" drinks. The restrictions on the soft drink industry were lifted after World War II. By 1949, the company was finally able to roll out the full-scale launch of its fruit juice line. The company became the first in England to bottle fruit juices, and the small-format bottles, marketed under the Britvic brand name, became a popular soft drink choice. Soft Drink Boom in the 1950s Soft drink consumption in general rose steadily in the United Kingdom through the 1950s. A number of factors contributed to the new success of the category, not the least of which was the appearance of television--keeping people at home and on their couches--and the concurrent appearance of new advertising possibilities. Britvic profited from the rising demand, and in the early 1950s built one of the largest fruit drink processing and bottling facilities in the world. The growing sales of soft drinks placed pressure on other parts of the U.K. beverage sector, namely the alcoholic beverage producers. This encouraged a number of the country's winemakers, distillers, and brewers to extend their operations to include soft drinks into the mid1950s. Among them, Vine Products, a group involved in the wine trade and that also produced the sparkling drink Babycham, as well as a number of liquors and other alcoholic beverages, bought control of Britvic in 1954. The 1960s saw an intensification of the consolidation of the British beverage sector. In 1961, Britvic became part of a larger operation when Vine Products merged with Showerings and Waterways to form Showerings, Vine Products & Waterways. Later in the decade, that company entered talks with brewing giant Allied Breweries. In 1968, Allied agreed to purchase Showerings, Vine Products & Waterways, for more than 100 million. Britvic then became the operating company for Allied's soft drinks division. The link with a major brewer--and its vast, nationally operating network of "tied" pubs--became the signal for an extension of the Britvic brand into new product categories. In 1973, for example, the company launched a new line covering the "mixer" soft drinks category, producing its own tonic, bitter lemon, and dry ginger ale. Britvic's relationship to Allied gave it ready access to its parent company's pub network, ensuring strong sales. Britvic also joined in the newly developing diet drink category, launching its first effort, Slimsta, in the early 1970s. By then, the company adopted its brand name as its own, becoming Britvic Limited in 1971. In another move to take advantage of Allied's pub network, Britvic also launched draught versions of its most popular soft drinks, starting in 1972. Through the end of the 1970s and into the 1980s, Britvic continued to seek new brand formulas

to attract the British soft drink consumer. In 1977, for example, the company launched an adultoriented beverage, Britvic 55, which was available only in pubs. Acquiring Scale for the New Century In the meantime, Britain's soft drinks producers had been facing increasing pressure from a new type of competitor. Cola drinks had been introduced from the United States in the 1950s and, backed by strong marketing campaigns, had succeeded in capturing a major share of the U.K. market. The popularity of U.S. soft drinks, especially Coca-Cola and Pepsi (produced and bottled under license in the United Kingdom), led Britvic to seek its own U.S. brands to license. In 1982, the company launched its first licensed soft drink, Dr. Pepper. This launch also marked the U.S. brand's first appearance in the United Kingdom. The company backed up the launch with a marketing drive costing some 600,000. In 1985, Allied Lyons sold 50 percent of Britvic to Australia's Castlemaine-Tooheys, part of Alan Bond's booming conglomerate in the 1980s, in a share swap deal. By 1986, Bond had turned Britvic around, selling it off to the Bass brewery, pubs, and beverages group. Bass then merged Britvic with its other soft drink holdings, including Britannia Soft Drinks and Canada Dry Rawlings, which also owned HD Rawlings, producer of the R. White soft drinks brand. The resulting company was renamed as Britvic Soft Drinks Limited. The newly enlarged Britvic began acquiring new brands for its portfolio. In 1986, the company acquired the Tango soft drink brand, originally launched in the early 1950s. Under Britvic, Tango was successfully repositioned as an "edgy" youth brand. In 1987, Britvic scored a major coup, when it acquired the U.K. production and bottling rights for the Pepsi brand, as well as for PepsiCo's recently acquired 7Up brand. Under Britvic, Pepsi, which had struggled to make headway against Coca-Cola's dominance in the United Kingdom, now rose to become one of the country's major brands. Into the early 1990s, majority owner Bass, under pressure from the British Mergers and Monopolies Commission, appeared set to sell its 51 percent stake in Britvic to PepsiCo. Yet the deal, which would have included the 20 stakes held by both Allied-Lyons and Whitbread, ran into disagreements, and by 1994, the parties agreed to call off negotiations. Instead, Britvic began seeking new expansion opportunities. In 1994, the company gained the license for launching Liptonice in the United Kingdom, another brand in the PepsiCo stable. In 1995, the company purchased rival U.K. soft drinks maker Robinsons. That company had been founded in the early 19th century as Robinson & Bellville, becoming famous for its Barley Water, and for its association with the Wimbledon tennis tournament, before becoming part of the Reckitt Coleman foods group. Backed by Britvic's marketing muscle, the Robinsons brand entered a new growth phase, and by 1998 had grown into the country's 11th largest seller in the supermarket and grocery channel. Britvic's next major expansion effort came in 2000, when the company acquired Orchid Drinks. That company had been part of the Camerons Brewery, operated by the Brent Walker group, before being spun off in a management buyout in 1992. The addition of Orchid brought Britvic a number of new brands, including Am, Purdey's, and Aqua Libra.

The rising sales of bottled waters led Britvic to enter this area as well in 2001, with the acquisition of the marketing rights for the Abbey Well brand in parts of the United Kingdom. The following year, Britvic bought Red Devil, an "energy" drink, in order to capture a share of the relatively young "stimulant drink" market. Into the mid-2000s, Britvic's ownership once again appeared up in the air. In 2000, Bass announced its intention to split off its brewery operations as a separate company and transform itself into a new company, the hotels operator Six Continents, subsequently renamed as Intercontinental Hotels Group. As part of its transformation, the company let it be known that it was interested in selling off its majority stake in Britvic's parent company, Britannia Soft Drinks. Britvic was put up for sale in 2001. Yet PepsiCo, which held some 10 percent of Britvic--and, more important, owned the Pepsi brand, which by then had become a major source of Britvic's sales and profits--balked at the sale. Among the reasons given for ending the offer was PepsiCo's reluctance to allow Britvic into the hands of private equity investment groups. A future sell-off of Britvic might open the possibility of PepsiCo's arch-rival Coca-Cola gaining control of its British bottler. Britvic's other shareholders, however, continued to push for a means to reduce or sell off their stakes in the company. By the end of 2004, the companies had negotiated a new 15-year licensing agreement with PepsiCo, a move that served to nullify any threat of a takeover by Coca-Cola. As part of the agreement, PepsiCo agreed to the principle of a public offering by Britvic by 2008 at the latest. Britvic then announced its intention to list on the London Stock Exchange in early 2005. Yet in January of that year, after poor weather in the summer season had depressed the company's net profits, Britvic's shareholders announced that they were suspending the plan for a public offering, citing fears that the company would not be fully valued. Regardless of its ownership structure, Britvic remained a key player in the British soft drinks industry in the new century. Principal Subsidiaries: Britvic. Principal Competitors: Procter & Gamble Company; PepsiCo Inc.; The Coca-Cola Company; Sara Lee Corporation; Groupe Danone; Cadbury Schweppes PLC; Interbrew SA-NV; SABMiller PLC; Mitchell and Butlers PLC; AG Barr PLC.

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