ROTTERDAM, Netherlands, Aug. 4, 2021 /PRNewswire/ -- Refresco, the world's largest independent bottler for retailers and A-brands in Europe and North America, announces it has entered into an agreement with The Coca-Cola Company to acquire three of its production locations in the United States. This transaction is subject to regulatory approval.
Hans Roelofs, CEO Refresco, comments: "The ongoing trend of A-brands outsourcing their production capabilities continues to provide opportunities for us as an independent beverage solutions provider. With manufacturing and supply chain being at the heart of our business, the acquisition of three Coca-Cola facilities in the US is another step forward in our growth strategy."
Brad Goist, COO Refresco North America, adds: "Adding three hotfill production sites to our footprint is a great opportunity to further enhance our offering. I am convinced that our Retail and A-brand customers across North America will be able to benefit from our extended capabilities and broadened geographical footprint."
The prospective transaction includes three production facilities in Truesdale (Missouri), Waco (Texas) and Paw Paw (Michigan), and involves long-term agreements for contract manufacturing activities. Refresco will become one of Coca-Cola's strategic third-party contract manufacturers in the United States.
Strategic rationale This acquisition is well aligned with Refresco's buy-and-build strategy, focused on further expanding and strengthening its manufacturing footprint across Europe and North America to service both retailers and A-brands.
All three hotfill production locations are highly complementary to Refresco North America's current manufacturing footprint. Through the acquisition, Refresco further improves its proximity to its existing customer base and expands its technological capabilities.
The transaction is subject to regulatory approval.
Refresco will finance the transaction from its existing cash position.
The financial terms of the transaction are not disclosed.
About Refresco Refresco is an independent bottler of beverages for retailers and A-brands with production in Europe and North America. The company has full year volumes and revenue of circa 12 billion liters and circa €4.1 billion, respectively. Refresco offers an extensive range of product and packaging combinations from 100% fruit juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass. Focused on innovation, Refresco continuously searches for new and alternative ways to improve the quality of its products and packaging combinations in line with consumer and customer demand, environmental responsibilities and market demand. Refresco is headquartered in Rotterdam, the Netherlands and has more than 10,000 employees. www.refresco.com