3i-backed soft drinks giant Refresco has agreed to acquire the Italian drinks company Spumador.
European soft drinks giant Refresco, which is backed by private equity group 3i, has agreed to acquire the Italian drinks company Spumador.
The deal, which was for an undisclosed sum, is Refresco’s second acquisition within a year following the purchase of German drinks company Soft Drinks International in September 2010.
Hans Roelofs, CEO of Refresco, comments: ‘This is our first step into the growing Italian private label market. This acquisition fits well into our buy-and-build strategy and is another step towards the consolidation of the fragmented European market for private label soft drinks and fruit juices.’
Spumador is a producer of private label carbonated soft drinks and mineral water, as well as producing drinks under its own trademarks including San Antonio and Valverde. The Italian company is owned by private equity firm Trilantic Capital Partners, and has five production sites in Northern Italy. In 2009, Spumador declared a turnover of €170 million (£144 million) and currently has around 400 employees.
Roberto Rossi, CEO of Spumador, adds: ‘The management sees this process of joining a larger international group as a good chance for top-line growth by sharing knowledge and product portfolios.’
Established in 2009, Netherlands-based Refresco employs 2,400 staff across its 21 production sites in Europe, including the UK, and has a turnover of around €1.14 billion.