The merger of soft drinks bottling companies Gerber Emig and Refresco has finally been announced today by shareholders.
The new combined venture will be called Refresco Gerber. It follows the approval of the European Competition Commission on 4 October 2013.
The Commission's approval to the merger is conditional on the sale of Gerber Emig's factory in Waibstadt, Germany.
Gerber Emig shareholders own 27.5% of the shares in the new group and Refresco shareholders own 72.5%. The composition of the supervisory board reflects the combined shareholder base.
Hans Roelofs, chief executive officer of Refresco Gerber, said: "I am proud to lead forward this strong and focused organisation and I am excited about building on our combined capabilities to create a broader business, which promises many opportunities for our customers and employees alike. We will focus on value creation for all our stakeholders and are willing to invest in the future of the total industry."
Prior to the merger, Refresco had a turnover of €1.5 billion, while Gerber, whose business was more focused on juice, had sales of €801 million.
Both companies had considered a possible merger for the last eight or nine years, according to reports.
© 2013 - European Supermarket Magazine by Enda Dowling
