NETHERLANDS/ITALY: Refresco acquires Italian Spumador
Refresco said the deal will allow it to gain "a strong position in the growing Italian private label market"
Netherlands-based Refresco has acquired Spumador, the largest producer of private label carbonated soft drinks (CSDs) and mineral water in Italy.
Private label soft drinks giant Refresco said today (17 January) that the deal will allow it to gain "a strong position in the growing Italian private label market". Financial details of the transaction were not disclosed.
The acquisition is Refresco's second substantial acquisition within a year, following the purchase of Soft Drinks International (SDI), a German producer of soft drinks and mineral water with a revenue of EUR140m, in September last year.
The purchase will be Refresco's first step into the Italian market.
"With the acquisition of Spumador, we will create a very sizeable position in an attractive new region," Hans Roelofs, CEO of Refresco, said. "It is our first step into the growing Italian private label market, where growth of 6% is predicted in the soft drink market segment for the coming years.
"Spumador is a professional and reliable partner for the Italian retail," he added. "It is a company with a rich tradition and a management team that has proven to be very effective in developing the company. This acquisition fits well into our 'buy & build' strategy and is another step towards the consolidation of the fragmented European market for private label soft drinks and fruit juices."
Owned by private equity firm Trilantic Capital Partners, Spumador has five production locations in Northern Italy. In addition to private label CSDs and mineral water, the firm also manufactures ready-to-drink iced teas, sport drinks and fruit juices. In 2009, the company generated EUR170m in revenue, an increase of 7% compared to 2008, and produced a total of 958m litres, up by around 9% on the previous year.
The transaction is expected to be completed within a few months.
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