Danish brewer Carlsberg has agreed to acquire J2O owner Britvic in a deal worth £3.3 billion.

The deal follows a rejected bid in late June, for £3.1 billion.

The brewer, which will form a UK company called Carlsberg Britvic, said the acquisition will be transformative for Carlsberg’s UK business creating “considerable opportunity for the future development of brands and people of both organisations, and will create a highly attractive multi-beverage supplier of scale”.

The Britvic acquisition is also expected to strengthen Carlsberg’s relationship with PepsiCo, which currently spans five markets across Western Europe and Asia. PepsiCo has agreed to waive the change of control clause in the bottling arrangements it has with Britvic.

Carlsberg Group CEO Jacob Aarup-Andersen said: “We are pleased that the Britvic board is unanimously recommending our offer to Britvic shareholders. We look forward to welcoming Britvic’s employees into the Carlsberg family and creating an exciting, combined company for all employees. We are committed to accelerating commercial and supply chain investments in Britvic, and we are confident that Carlsberg Britvic will become the preferred multi- beverage supplier to customers in the UK with a comprehensive portfolio of market-leading brands.”

Separately, the boards of Carlsberg and Marston’s have reached an agreement on the acquisition of Marston’s 40% stake in Carlsberg Marston’s Brewing Company, for a sum of £206 million. The transaction is anticipated to close in the third quarter of 2024. The move sees Marston’s focus on its pubs business.