Britvic sells more than 1.4bn litres of soft drinks a year

The windfall, worth about �2.25m, forms part of the sale of 153 million shares at a price of 210-225 pence apiece.

The firm, which licenses Pepsi and 7Up and also makes Tango and Robinsons, is being sold by three key shareholders.

Intercontinental Hotels, Whitbread and Pernod Ricard are selling 71% but will keep a 4% stake. Pepsico also holds 5%.

Britvic was founded by Intercontinental, Whitbread and Allied Domecq.

Allied was bought by Pernod earlier this year. All three have been keen to move out of the soft drinks market, having exited the brewing business more than five years ago.

Still drinks leader

Overall, the flotation means the company will have a market capitalisation of �451m-537m, Britvic said.

Including debt, that produces an enterprise value of about �771m-857m.

The company also said that Gerald Corbett, once the head of Railtrack, had become chairman as of 24 November.

The company had revenues of almost �700m in the year to 2 October 2005.

Britvic sits in the second spot in the UK soft drinks market behind US giant Coca-Cola.