Global investment company KKR has signed an agreement to acquire a majority stake in Refresco Group for an undisclosed sum.
Founded in 1999, Refresco is a beverage solutions provider for retailers and branded drinks companies. Refresco’s production platform includes over 70 majority-owned manufacturing sites across Europe, the US, Canada and Mexico, and KKR’s investment will help the company to further expand its global footprint.
Hans Roelofs, Refresco’s CEO, said: “To support further growth, we have explored the various alternatives available to us and believe that the investment by KKR is an incredibly positive development for the company. Like our existing shareholders, KKR is supportive of our strategy and will bring operational expertise, access to capital and a well-established network to support us in our growth, innovation and M&A strategy.”
James Cunningham, partner at KKR, added: “Refresco has established itself as an industry leader supporting the global beverage industry with a blue-chip global customer base, an experienced and highly regarded management team and an impressive network of assets that provides compelling value to customers”.
He continued: “The company also has a strong commitment to sustainability, which is an important differentiator for its customers. 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.”
Current investors, PAI Partners and British Columbia Investment Management Corporation, will maintain a significant minority stake in the group.
The transaction is subject to closing conditions.
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