Refresco Gerber has announced that it has signed an agreement to buy all of the shares in Dutch beverage co-packing business DIS.
The purchase price of €72m represents a value, including debt, equivalent to 7.5 times DIS’ pre-tax earnings.
DIS fills of a wide range of cans with non-alcoholic beverages such as carbonated soft drinks and energy drinks. DIS additionally fills beer in cans for regional and international brewers. The company employs almost 200 people and operates a manufacturing site in Sittard, the Netherlands.
Its annual production is approximately 300m litres in 800m cans, 78% soft drinks and 22% beer. Co-packing for international brands accounts for 95% of the volume and the remaining 5% is private label business with European retailers. The company has an annual turnover of approximately €90m, Refresco Gerber revealed.
DIS CEO Marco Geurten said: “We are excited to join forces with the Refresco Gerber Group. Together we will be in a better position to support our customers’ international growth. Refresco Gerber’s European platform offers a great opportunity to further develop DIS’ co-packing business across Western Europe. I am looking forward to working with our customers, employees and the Refresco Gerber team to take our company to the next level.”
And Refresco Gerber’s CEO, Hans Roelofs, added: “With DIS we take a next step in the execution of our buy-and-build strategy and enhance our co-packing position in the Netherlands. We also broaden our proposition and capabilities in the filling of cans. DIS’ international co-packing concept has been very successful over the years and will be continued and broadened in the Refresco Gerber setting.”
© FoodBev Media Ltd 2024