Following a lengthy approval process from the UK's Competition and Markets Authority, Refresco has announced that it has completed its acquisition of the bottling activities of Cott.
The move sees Refresco almost double its production volumes to around 12 billion litres, and 'provides customers access to seamless service across geographies and an unrivalled production platform with access to all non-alcoholic beverages categories', according to a company statement.
Closing the Deal
The company said that the CMA's approval, as well as the approval of the relevant competition authorities in both the US and Canada, is conditional upon the sale of an Aseptic-PET facility in Nelson, Lancashire.
Once this sale is completed, integration of the group's UK operations will commence. Integration will start immediately in North America, it added.
"Today's completion signals an important moment reinforcing our position as the leading industry player," commented Hans Roelofs, the chief executive of Refresco. "Combining the two businesses is in the heart of our buy and build strategy. The joined business will be well positioned to meet customers' continuously changing needs and requirements and offers ample opportunity for employees to develop their careers in an increasingly international setting."
Roelofs added that the newly-joined company now has a "well balanced portfolio with exposure to all categories for retailers and a strengthened contract manufacturing exposure with unique geographical spread for branded beverage companies."
Following the completion of the deal, Refresco now has a footprint of 59 facilities in 12 countries, employing over 9,500 people.
In the US, its operations are 'significantly extended', with the group now operating 22 manufacturing sites in the US, 4 manufacturing sites in Canada and 1 manufacturing site in Mexico. It also has 26 manufacturing sites in continental Europe and 6 manufacturing sites in the UK.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.