Danish brewer Carlsberg has acquired London-listed soft drinks maker Britvic for £3.3 billion.

Britvic had previously rejected an offer of £3.1 billion.

The new entity will be named Carlsberg Britvic, positioning Carlsberg as the fourth-largest beer manufacturer in the UK.

Carlsberg plans to invest in Britvic's commercial activities and supply chain to drive future growth.

The acquisition includes expanding beverage bottling operations for PepsiCo in the UK.

The deal offers a cash payment per Britvic share of £1,290 and a special dividend of 25 pence.

Britvic is known for brands like J20 and Robinsons and has a significant presence in the UK, Western Europe, and Brazil.

The strategic acquisition aims to enhance Carlsberg's presence in Europe and leverage Britvic's bottling business.

The Britvic board unanimously recommended the acquisition, leading to an increase in stocks for both companies.