Investment firm KKR has signed a definitive agreement to acquire a majority stake in bottling firm Refresco.
Refresco’s existing investors, PAI Partners and British Columbia Investment Management Corporation (BCI), will retain a significant minority position.
Hans Roelofs, CEO of Refresco, said, "We are very pleased to welcome KKR, one of the world’s most prominent investment firms, as our new majority owner. We are proud that PAI and BCI will continue as shareholders, which is a testament to our successful value creation."
"Like our existing shareholders, KKR is supportive of our strategy and will bring operational expertise, access to capital and a well-established network to support us in our growth, innovation and M&A strategy."
Refresco
Founded in 1999, Refresco serves retailers and branded beverage companies across Europe and North America through its network of bottling, warehousing, logistics, and other operational assets.
Its production platform includes over 70 majority-owned manufacturing sites in Europe, the US, Canada, and Mexico, providing customers with close proximity and reliable service across geographies.
Refresco has built long-standing relationships with its customers by partnering to support material planning, procurement, manufacturing, warehousing, fulfilment, and distribution.
Read More: Refresco To Acquire Three Facilities From Coca-Cola In The US
KKR Acquisition
The acquisition will see KKR support Refresco as it expands its global and strategically located footprint to serve existing and new customers through a range of formats and channels.
The company hopes to build on its manufacturing ability to meet the demand for sustainable beverage solutions, with a focus on sustainable sourcing, responsible production, and environmentally friendly operations.
“Refresco has established itself as an industry leader supporting the global beverage industry with a blue-chip global customer base, an experienced and highly regarded management team, and an impressive network of assets that provides compelling value to customers. The company also has a strong commitment to sustainability, which is an important differentiator for its customers,” said James Cunningham, partner at KKR.
KKR is investing in Refresco primarily under its global infrastructure strategy, which was established in 2008.
KKR currently oversees approximately $40 billion in infrastructure assets and has made over 60 infrastructure investments across a range of sub-sectors and geographies.
© 2022 European Supermarket Magazine – your source for the latest Packaging And Design news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.
