The review, which is being held through Creative Brief, follows a restructure in the Britvic marketing department last month that saw activity for its own brands separated from marketing for licensed PepsiCo brands.
Mindshare handles media for Britvic's entire portolio but will now face a review on Britvic brands including Robinsons, Tango and Drench, while retaining the £11 million Pepsi media business.
It is thought that the review is still at its early stages but agency sources said that Britvic was considering splitting the planning and buying on the account and appointing two media agencies.
Mindshare, which has been invited to repitch, has held the Britvic and Pepsi business since 1999, when it won the Pepsi account from BMP OMD and Britvic's planning from Michaelides & Bednash.
Britvic's media activity last year included the £2 million launch TV ad for Drench water by CHI & Partners.