Netherlands-based drinks bottler Refresco has announced that it received a new, unsolicited and indicative proposal from French private-equity firm PAI partners SAS.
The deal would see PAI Partners acquire all 81.2 million issued shares in the bottling company for €19.75 per share, representing a cash consideration of around €1.6 million.
This would also include Refresco's recent acquisition of Cott's bottling activities, which is expected to be completed before the end of the year.
Refresco rejected a €1.4 billion takeover bid from PAI in April of this year, but says that its board is carefully reviewing the new proposal.
The Rotterdam-based company operates 29 manufacturing facilities in the US and Europe, and it saw revenue increase to €1,166 million in the first six months of 2017.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.