Refresco said that the transaction forms part of its 'Buy & Build' strategy, under which it is seeking to expand its market reach and to integrate companies into its portfolio.
Refresco is headquartered in Rotterdam and operates more than 70 manufacturing sites across North America and throughout Europe.
Tru Blu Beverages owns three manufacturing facilities located in Sydney, Brisbane and Perth, supported by a distribution network with warehouses all over Australian capital cities.
According to Refresco, Tru Blu Beverages fits into its business model due to its wide offer of beverage products for retailer brands.
Moreover, it said that Refresco's ESG agenda will accelerate Tru Blu Beverages' efforts of minimising its environmental impact.
"The acquisition of Tru Blu Beverages in Australia creates a new platform for Refresco, in line with our strategic promise to expand into a third continent," commented Hans Roelofs, Refresco chief executive.
"By joining Refresco, our customers, suppliers and employees will be able to benefit from the company’s broad capabilities, experience and expertise," added Peter Brooks, Tru Blu Beverages' CEO.
"Tru Blu Beverages’ leading capabilities and blue-chip customer base gives Refresco a solid entrance into the Australian market."
Refresco also recently entered into an agreement to acquire alcoholic beverage manufacturer Avandis from Lucas Bols N.V. and De Kuyper Royal Distillers.