It was reported at the weekend that the maker of Robinsons and Tango is to be the target of a takeover after a disappointing performance this year, following a stock market flotation last year by shareholders InterContinental Hotels Group, Whitbread and Pernod Ricard.
In reports in the Sunday Times and Sunday Telegraph, the papers claimed Permira will bid today.
A spokesman for Britvic said: "At present we have had no contact from anyone regarding an offer."
However, Reuters reports this morning that Permira has shelved any plan to bid for the company.
Britvic's share price has struggled to stay about its 230p offer price. The firm is understood to have been hit by the cut-throat competition in the drinks market and the move to healthier drinks. It has issued two profit warnings this year.
As part of its fight to take a slice of the healthy market, Britvic launched a series of premium range of 100% fresh fruit juices, earlier this year. Britvic Squeezed Orange Juice and Britvic Pressed Apple Juice were presented to the on-trade market in January.
The launches may have helped its most recent trading statement. In September, Britvic was upbeat and said it expected full-year profits to increase to £55m, but reported softness in the sales of fizzy drinks, which have fallen by 5.8% in the 20 weeks to September. As well as Robinsons and Tango, Britvic makes Pepsi, 7Up and the Gatorade brands under licence.
Permira already has a 5% stake in Britvic, and PepsiCo also holds a 5% stake in the firm. The 100-year-old company, founded as British Vitamin Products, is led by chief executive Paul Moody, who has been under fire for the firm's weak performance.
The Sunday Telegraph reported that Martin Clarke, head of Permira's consumer investment team, is leading the bid. He has previous been behind failed offers for Debenhams, WH Smith and HMV. The news follows that last week that Richard Collins, director of brand marketing at Britvic, will leave the company in the next few days for an as-yet-unnamed job.
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