Beverage giant Britvic has announced the acquisition of UK-based ready-to-drink iced coffee brand Jimmy’s Iced Coffee.
According to Britvic, Jimmy’s Iced Coffee is “the fastest growing RTD iced coffee brand in the segment,” generating a retail sales value of £17 million in the year to June 2023, a 43% increase from the previous year.
Jimmy’s coffees have fewer calories per serving than the category average, come in fully recyclable packaging and are HFSS-compliant.
Simon Litherland, Britvic’s CEO, said: “We are thrilled to welcome Jimmy’s Iced Coffee to our portfolio of much-loved Britvic brands…We have a long track record of acquiring and developing brands, and I am confident in our ability to quickly expand our position in the iced coffee category – which is an exciting and fast-growing market segment.”
Britvic intends to accelerate the growth of Jimmy’s by leveraging its customer relationships to drive new listings and increase distribution while increasing cost efficiency through Britvic’s supply chain expertise and procurement capability.
Jim Cregan, co-founder of Jimmy’s Iced Coffee, added: “We are so delighted with this deal which is the culmination of twelve years of monumental hard work by my sister and I. We have poured our heart and souls into making this business what it is today, and we feel so fortunate that Britvic is now able to take Jimmy’s to places about which we could only dream. We are excited to watch the next chapter of the journey unfold and look forward to Jimmy’s Iced Coffee becoming even more well-known and enjoyed.”
Jimmy’s founders, brother and sister Jim Cregan and Suzie Owen, will continue to be involved in the business as ambassadors for the brand, helping to support the transition while providing advice on brand direction and future innovation, to ensure that Jimmy’s core values and ethos continue to drive the brand.
Financial terms of the deal were not disclosed.
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