Carlsberg’s £3.3 billion acquisition of drinks-maker Britvic has been approved by the UK’s competition regulator, paving the way for one of the largest takeovers of the year.

The two companies announced the agreement in July, aiming to combine Carlsberg’s beer portfolio with Britvic’s range of soft drinks, headquartered in Hemel Hempstead, Hertfordshire.

In September, the Competition and Markets Authority (CMA) began an initial review of the merger. On Tuesday, the CMA confirmed it would not escalate the investigation to a more detailed inquiry.

The transaction is now anticipated to close on 16 January.

A Carlsberg spokesman said: “We’re delighted to have received all necessary regulatory clearances and, subject to the satisfaction of the court, we look forward to completing the transaction in January 2025.

“We believe the combination of Carlsberg and Britvic will create a highly attractive multi-beverage supplier in the UK, with an efficient supply chain and distribution network that provides our customers with a portfolio of market-leading brands and world-class service.”

Following the completion of the acquisition, Carlsberg plans to establish a unified operation called Carlsberg Britvic.