View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
February 22, 2022

Refresco prepares for ownership changes as KKR takes soft drinks giant private

Publicly-listed Refresco is set to welcome a new owner

By Olly Wehring

Private equity powerhouse KKR has agreed to acquire majority control of beverage contract manufacturer Refresco.

Free Whitepaper
img

Understand the impact of decreasing sugar consumption on the F&B market

Growing consumer concern regarding health and wellbeing has increased the focus on reducing sugar consumption. This has driven food and beverage manufacturers, alongside governments, to take measures to meet this challenge. In addition, the pandemic heightened the focus on self-care, including implementing healthy eating to support the immune system. Now more than ever, consumers are paying attention to the amount of sugar and calories in the products they purchase. Access GlobalData’s new whitepaper, The Sugar Reduction Challenge – Past, Present and Future Outlooks within Beverages, to better understand the recent trends in sugar demand, how manufacturers and governments have responded to the challenge, and what solutions are available to the industry. The white paper covers:
  • The key factors behind the recent trends in sugar consumption
  • What is driving consumer choices when shopping for food and beverages?
  • How companies and governments are stepping up their efforts to meet consumers’ expectations
  • The outlook for sugar demand
  • Which ingredients stand to benefit from these future developments?
Enter your details here to receive the free whitepaper.
by GlobalData
Enter your details here to receive your free Whitepaper.

The transaction, announced by the US-based investment group today, is for an unspecified size and sum. Refresco, which produces soft drinks not only for brand owners but also for the likes of multiple retailers, will retain its existing investors, PAI Partners and British Columbia Investment Management Corp, each of whom will retain “significant minority” holdings.

The Netherlands-headquartered drinks group, which has been snapping up unwanted production facilities from companies including The Coca-Cola Co and Britvic in recent years, posted annual sales of just over EUR4bn (US$4.67bn) in 2020.

According to the two companies, KKR will support Refresco’s expansion programme going forward.

“Refresco has established itself as an industry leader supporting the global beverage industry with … an impressive network of assets that provides compelling value to customers,” said KKR partner James Cunningham. “We look forward to leveraging our operational expertise from across the KKR platform to support the company’s continued growth and further advance the sustainability of its value chain.”

Refresco CEO Hans Roelofs added: “We have explored the various alternatives available to us and believe that the investment by KKR is an incredibly positive development for the company. KKR … will bring operational expertise, access to capital and a well-established network to support us in our growth, innovation and M&A strategy.”

As well as producing for third parties, Refresco is also a brand owner in its own right: The company’s US$1.25bn purchase of Cott Corp four years ago also included the Old Jamaica CSD range.

“Let me say right here, plastic in itself is not the issue” – Click here for Just Drinks’ interview from 2020 with Refresco CEO Hans Roelofs

Related Companies

Free Whitepaper
img

Understand the impact of decreasing sugar consumption on the F&B market

Growing consumer concern regarding health and wellbeing has increased the focus on reducing sugar consumption. This has driven food and beverage manufacturers, alongside governments, to take measures to meet this challenge. In addition, the pandemic heightened the focus on self-care, including implementing healthy eating to support the immune system. Now more than ever, consumers are paying attention to the amount of sugar and calories in the products they purchase. Access GlobalData’s new whitepaper, The Sugar Reduction Challenge – Past, Present and Future Outlooks within Beverages, to better understand the recent trends in sugar demand, how manufacturers and governments have responded to the challenge, and what solutions are available to the industry. The white paper covers:
  • The key factors behind the recent trends in sugar consumption
  • What is driving consumer choices when shopping for food and beverages?
  • How companies and governments are stepping up their efforts to meet consumers’ expectations
  • The outlook for sugar demand
  • Which ingredients stand to benefit from these future developments?
Enter your details here to receive the free whitepaper.
by GlobalData
Enter your details here to receive your free Whitepaper.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Drinks