Refresco Group has announced it has completed the acquisition of Avandis, a manufacturer of alcoholic beverages in the Netherlands, from Lucas Bols N.V. and De Kuyper Royal Distillers.
In a statement, Refresco said that it had completed the deal following receipt of regulatory approval and completion of the Works Council process.
The relevant parties announced the proposed sale of Avandis to Refresco in October 2022.
'With the acquisition now completed, Refresco expands its offering to customers in the alcohol category, complementing the existing hard liquor capabilities in Europe,' Refresco said in a statement.
'In addition to the sale of Avandis, Lucas Bols and De Kuyper also entered into a long-term contract manufacturing agreement, allowing Refresco to invest and expand the business.'
Following the transaction, Avandis’ production facility in Zoetermeer will become part of the Refresco network, which now consists of more than 70 manufacturing facilities across Europe, North America and Australia.
According to the Dutch beverage group, the expansion means that it can 'further strengthen its position as a global independent beverage solutions provider to branded customers and leading retailers'.
The integration process will commence immediately, with Avandis to be rebranded as Refresco, the group said.
Tru Blu Acquisition
In October, Refresco announced it had acquired Tru Blu Beverages, an Australian manufacturer of non-alcoholic drinks.
Tru Blu Beverages owns three manufacturing facilities located in Sydney, Brisbane and Perth, supported by a distribution network with warehouses in various Australian cities.
© 2023 European Supermarket Magazine – your source for the latest drinks news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.