Refresco CEO Hans Roelofs will step down in August, concluding an 18-year tenure with the Netherlands-based drinks manufacturer.
In a statement issued yesterday (26 June), Refresco, majority-owned by private-equity firm KKR, said it had started a search for a new chief executive.
Refresco supervisory board chairman and KKR partner James Cunningham thanked Roelofs for “positioning Refresco for continued success in the years to come as we continue to expand the company’s footprint”.
Roelofs joined Refresco in 2007 after spells at meat group Dumeco and agri-food business Nutreco.
Through M&A and organic growth, Refresco is now a company with operations in 13 countries. The business has 75 manufacturing sites and employs more than 14,000 staff. KKR invested in the group in 2022.
Reflecting on his decision to retire, Roelofs said: “This is the right time for me to step back, confident that the company will continue to grow and thrive on its unique entrepreneurial spirit and the agility of its people.”
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By GlobalDataIn 2024, Refresco generated revenue of €5.99bn ($x), up 1% on a year earlier. The volume of drinks sold stood at 13.83bn litres, down from 14.25bn litres in 2023.
Some 26% of the company’s volumes were carbonated soft drinks, with another 26% generated through water products. Sport and energy drinks accounted for 15%.
Earlier this month, Refresco agreed to acquire Norway-based soft-drinks manufacturer Telemark Kildevann (TKV).
TKV operates two production facilities in the Norwegian towns of Fyresdal and Aurskog and supplies products to retailers and branded customers in Norway and Sweden.
Last year, Refresco snapped up Spanish plant-based beverage maker Frías Nutrición, purchased a production site from German beverage group Berentzen-Gruppe and bought US-based VBC Bottling Company, a fellow contract manufacturer.
In May last year, Rotterdam-based Refresco opened its first European plant-based production line in Germany, marking an entry into the oat drinks’ market.
As part of the deal for the Berentzen-Gruppe facility, Refresco also bought the mineral-water brands Märkisch Kristall and Grüneberg Quelle.
Commending Roelofs’ leadership, Refresco supervisory board member and PAI managing partner Frédéric Stévenin said: “Refresco went through a period of unprecedented growth and transformation.”
