Overview

We initially acquired a minority stake in Refresco in 2010 to help support the Company’s continued growth and buy-and-build strategy. During our ownership, Refresco transformed from a European juice manufacturer to a leading European independent bottler of soft drinks for A-brand owners.

Refresco’s merger with Gerber Emig in 2013 was a transformational value driver, enhancing the company’s presence across Europe and strengthening its capability for industry innovation. In addition, Refresco acquired German-headquartered SDI, Spumador in Italy and Taja in Poland, taking its production facilities to 27 across nine countries with a total of 159 production lines and a truly pan-European footprint.

Highlights

• Increased revenue from €1.2bn to €2bn between 2010 and 2015
• Grew volumes from 3.8bn litres in 2010 to 6.1bn litres in 2015
• Completion of its IPO on Euronext Amsterdam in March 2015
• Successfully entered the Italian market and significantly increased market share in Germany, the UK and France

Regulatory information 
This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.