The UK's competition watchdog has approved Carlsberg's $4.23 billion acquisition of soft drinks maker Britvic, stating on Tuesday that the deal would not require an in-depth investigation.

Carlsberg reached an agreement to acquire Britvic in July, with the goal of creating a leading beverage "powerhouse" in the UK market.

The deal, which is expected to be finalized on January 16, will allow the Danish brewing giant to take over Britvic's bottling agreement with PepsiCo. Carlsberg already bottles PepsiCo products in multiple markets and aims to expand this partnership into new regions in the future.

In a joint statement, Carlsberg and Britvic confirmed that all regulatory conditions have been met, including approvals from both the European Commission and the UK's Competition and Markets Authority. Photo by Rudolphous, Wikimedia commons.