KKR to acquire majority stake in Refresco

By Gwen Ridler contact

- Last updated on GMT

KKR has acquired a majority stake in Refresco
KKR has acquired a majority stake in Refresco

Related tags: Drinks

Investment fund KKR has acquired a majority stake in beverage contract manufacturer Refresco for an undisclosed sum.

Refresco’s existing investors, PAI Partners and British Columbia Investment Management Corporation will maintain a significant minority position.  

KKR said it would support the drinks manufacturer’s global expansion plans while maintaining its ‘strategically located footprint’. A major focus for Refresco going forward will be on sustainability through sustainable sourcing, responsible production and environmentally friendly operations. 

Hans Roelofs, chief executive of Refresco, 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.​  

Unchanged focus 

“Our focus of growing alongside our customers, combined with expanding into new categories and geographies, remains unchanged. I look forward to this new chapter, and for all our employees and customers to capitalize on the opportunities ahead of us.” 

KKR made its investment primarily through its Global Infrastructure strategy – the firm currently oversees about $40bn (£29.4bn) in infrastructure assets and has made over 60 infrastructure investments across a range of sub-sectors and geographies. 

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. ​ 

Operational expertise​ 

“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.” 

Founded in 1999, Refresco is a global independent beverage provider for retailers and branded beverage companies with pan-regional coverage in Europe and North America through its network of bottling, warehousing, logistics and other operational assets.  

The Company’s production platform includes more than 70 majority-owned manufacturing sites in Europe, the U.S., Canada and Mexico. 

Meanwhile, plant baker Finsbury Food Group's subsidiary Lightbody Holdings has agreed to acquire a further 35% of Lightbody-Stretz for €7.14m from Phaste,​ bringing its stake to 85% of its shares.

Related topics: Drinks, Operations

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