Carlsberg has agreed to take over Britvic, known for drinks such as Robinsons squash and J20, for £3.3bn. Britvic also has an exclusive licence with US partner PepsiCo to bottle and distribute PepsiCo brands in the UK and Ireland.

The agreement follows the rejection of previous takeover bids of 1,200 pence and 1,250 pence per share. The latest offer represents a premium of around 36% to Britvic's closing share price of 970p on 19 June, the day before rumours of Carlsberg's interest began.

Founded in the 1930s as the British Vitamin Products Company, Britvic originally offered soft drinks as an affordable way to deliver vitamins to consumers. The company, which is now based in Hemel Hempstead, employs around 4,500 people and boasts 39 brands in 100 countries including Brazil, France and Ireland.

Carlsberg said the acquisition will deliver annual cost savings of approximately GBP100 million over five years, through supply chain efficiencies as well as reduced administrative and overhead costs.