Refresco, the global independent beverage solutions provider for retailers and brands, has on Monday announced the successful closing of its acquisition of Frías Nutrición, a leading manufacturer of plant-based drinks in Spain.
Refresco said this transaction, announced in July, would strengthens its position in the rapidly growing plant-based beverage category.
Frías, located in Burgos, Spain, employs approximately 250 people and specialises in producing private label plant-based drinks, including almond, rice, hazelnut, and soy options for key retailers in Spain and beyond. This acquisition complements Refresco’s existing operations in Spain and significantly expands its capabilities in the plant-based drinks sector.
“As part of our proven ‘Buy & Build’ strategy, we are looking to expand our capabilities in existing and adjacent beverage categories. The acquisition of Frías not only enhances our footprint in the plant-based drinks market, but it also allows us to better serve our European customers and accelerates our product innovation capabilities,” Hans Roelofs, Refresco chief executive, commented.
“We are excited to welcome the talented Frías team and are dedicated to a seamless integration process that will drive mutual growth.”