Bottler Refresco has posted volume growth of 1.9%, to 11,905 million litres, in its financial year 2021.
Group revenue (unaudited) amounted to €4.2 billion, up from €4 billion in 2020.
The company's North American unit witnessed volume growth of 3.0%, to 4,695 million litres, and Europe saw 1.3% growth, to 7,210 million litres.
The company attributed this growth to the expansion of contract manufacturing for Global, National and Emerging (GNE) brands.
Retailer brands accounted for 62.8% in terms of volume in full-year 2021, down from 66.1% in 2020.
Volumes for GNE brands increased to 37.2%, from 33.9% in 2020, driven by demand from existing customers.
Adjusted EBITDA for the financial year increased by 9.6%, to €564 million.
Net profit for the financial year amounted to €61 million, following net loss of €28 million in 2020.
Adjusted net profit for the full year 2021 amounted to €85 million, up from adjusted net profit of €5 million in the preceeding year.
Acquisition
Last week, investment firm KKR has signed a definitive agreement to acquire a majority stake in the company.
Refresco’s existing investors, PAI Partners and British Columbia Investment Management Corporation (BCI), will retain a significant minority position.
Earlier this month, completed the acquisition of German mineral water and carbonated soft drinks company, Hansa-Heemann, following regulatory approval from competition authorities.
In summer of last year Refresco entered into an agreement with The Coca-Cola Company to acquire three of its production locations in the United States – Truesdale (Missouri), Waco (Texas), and Paw Paw (Michigan).
© 2022 European Supermarket Magazine – your source for the latest Packaging news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
