UK-based beverage firm Britvic has reached an agreement to acquire Brazil-based concentrates and juice provider Bela Ischia Alimentos, for a total cash consideration of R$218m ($66.5m).

A part of Britvic's strategy for international expansion, the transaction will be funded from current debt facilities. Britvic includes brands such as Robinsons, MiWadi and Teisseire.

The firm also acquired Empresa Brasileira de Bebidas e Alimentos (ebba) as well as Brazil-based liquid concentrate brands Maguary and Dafruta in September 2015.

"The proposed acquisition of Bela Ischia represents an exciting opportunity to build on our very strong first year in Brazil."

The acquisition of Bela Ischia is expected to boost the portfolio and presence of Britvic in Brazil, corresponding to the strong footprint of Bela Ischia in Rio de Janeiro and Minas Gerais.

Britvic chief executive officer Simon Litherland said: "The proposed acquisition of Bela Ischia represents an exciting opportunity to build on our very strong first year in Brazil with further expansion of our presence in a large and growing soft drinks market.

"Bela Ischia operates in a category where Britvic has proven capability of generating growth, launching new products and establishing brand leadership and is an excellent complementary fit with our existing business.

"As a result, we are confident that this complementary acquisition should create a fantastic platform to consolidate our strategic position in Brazil and generate additional shareholder value over the coming years.”

The firm expects the combined businesses to realise substantial cost savings, primarily from efficiencies in procurement, production, logistics and administration, in addition to revenue benefits.

Subject to specific closing conditions, final due diligence and a completion audit, the transaction is expected to close by the end of March this year.