Britain's Britvic acquired Ireland-based C&C’s soft drinks and distribution divisions for for €250 million ($339 million) in cash, said Monday a C&C company statement.

C&C, which is hanging on to its internationally successful Magners and Bulmers cider brands, said it wanted to concentrate on growth in its core spirits and cider markets.

According to the deal, Britvic has now acquired Ireland's popular Ballygowan water brand as well as Club Orange, Club Energise and MiWadi. Britvic has also acquired C&C's distribution of the Pepsi and 7Up brands across the whole island of Ireland.

"This is a great opportunity to accelerate earnings growth and provides us with a leading position in the soft drinks markets in both the Republic of Ireland and Northern Ireland," Britvic chief executive Paul Moody said in a statement.

The sale is expected to be completed by the end of August.

The C&C group profit increase by 96.2 percent to €198.2 million, on sales of €981.4 million in the 12 months ended February 28.
Britvic gained a £39.6 million ($78.4 million) profit on sales of £677.7 million in its most recent financial year ended October 1, 2006.