Private Equity Track record
  • Refresco
    Refresco
    Benelux / Private Equity

    Consumer & Private Label

    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
    Key facts
    €2bn Increased revenue
    #1 Co packing partner in Europe by volume
    #1 Private label soft drinks and fruit juice supplier
    2.2x Money Multiple achieved on exit
    “The successful listing of Refresco on the Euronext Amsterdam represents a significant milestone for the Company following our expansion from a local juice manufacturer to the leading European independent bottler of soft drinks for retailers and A-brand owners.” Hans Roelofs, CEO, Refresco
    Deal team
    Pieter de Jong
    Senior Partner
    Benelux / Private Equity
    View bio
    Boris Kawohl
    Partner
    Benelux / Private Equity
    View bio
    Rutger Vos
    Partner
    Benelux / Private Equity
    View bio

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

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