The UK-based private equity group, 3i, has completed its €240m acquisition of the Dutch soft drinks producer, Refresco.

The company said it would be paying €70m in cash for Refresco, which produces carbonated soft drinks and fruit juices, while the rest of the purchase price would be represented by absorbing Refresco's bank debt.

Last month, the acquisition was approved under the EU's simplified anti-trust regulations which cleared the way for the purchase provided no further objections were received within a month.

Refresco has annual sales in the region of €500m.