Britvic and AG Barr, owners of such brands including Robinsons and Irn-Bru, are set to merge in a deal worth £1.4 billion.

The merger would create a dominant drinks company within the European market, with ownership split between Britvic with 63 percent and AG Barr owning the remaining 37 percent.

The merger between the two companies would see reductions in the combined work force of between 8 and 12 percent.