Corbett tipped to become Britvic chairman

Greencore board member Gerald Corbett is being lined up to become chairman of drinks group Britvic when it floats on the stock market, it was reported today.

Mr Corbett, a former head of British firm Railtrack, is understood to be the front-runner for the post following an executive search that ended last month.

According to the Mail on Sunday, Mr Corbett has verbally accepted the offer but nothing will be formally announced until shareholders and advisers agree to back a listing.

Britvic, which owns soft drinks brands such as Robinsons, was put on the path to flotation in March following a deal between InterContinental Hotels and US giant PepsiCo.

InterContinental owns 47.5% of the group double the holdings of the leisure group Whitbread and drinks firm Allied Domecq. PepsiCo holds the remaining 5% stake.

Britvic is expected to be valued at around £800m (€1.1bn) when it joins the ranks of listed companies, probably within the next 18 months.

Mr Corbett is currently chairman of UK high street retailer Woolworths and health club chain Holmes Place.