Refresco, the world’s largest independent bottler for retailers and A-brands in Europe and North America, has entered into an agreement with The Coca-Cola Company to acquire three of its production locations in the United States. The financial terms of the transaction, which is subject to regulatory approval, have not been disclosed.
Hans Roelofs, Refresco CEO, says, “The ongoing trend of A-brands outsourcing their production capabilities continues to provide opportunities for us as an independent beverage solutions provider. With manufacturing and supply chain being at the heart of our business, the acquisition of three Coca-Cola facilities in the U.S. is another step forward in our growth strategy.”
Brad Goist, Refresco North America COO, adds, “Adding three hot-fill production sites to our footprint is a great opportunity to further enhance our offering. I am convinced that our retail and A-brand customers across North America will be able to benefit from our extended capabilities and broadened geographical footprint.”
|The Coca-Cola System to Invest Billion Euros Over Next 5 Years|
Including production facilities in Truesdale, Mo.; Waco, Texas; and Paw Paw, Mich., the prospective transaction involves long-term agreements for contract manufacturing activities. Refresco will become one of Coca-Cola’s strategic third-party contract manufacturers in the United States.
The acquisition is well aligned with Refresco’s buy-and-build strategy, focused on further expanding and strengthening its manufacturing footprint across Europe and North America to service both retailers and A-brands.
All three hot-fill production locations are highly complementary to Refresco North America’s current manufacturing footprint. Through the acquisition, Refresco will further improve its proximity to its existing customer base and expand its technological capabilities.