Refresco Group, the global independent beverage solutions provider for brands and retailers in Europe and North America, said it has entered into an agreement to acquire Tru Blu Beverages, one of Australia’s leading manufacturers of non-alcoholic beverages, for an undisclosed sum.
“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,” Hans Roelofs, Refresco chief executive, said.
“The three strategically located manufacturing sites are the starting point for our future footprint in the region. Acquiring Tru Blu Beverages further strengthens our position as beverage solutions provider to branded customers and leading retailers globally, and provides new opportunities for further growth.”
Peter Brooks, Tru Blu Beverages chief executive, added: “By joining Refresco, our customers, suppliers and employees will be able to benefit from the company’s broad capabilities, experience and expertise. We are proud to become part of the Refresco family, with its strong entrepreneurial spirit and passion to deliver quality service to its customers.
“Tru Blu Beverages’ leading capabilities and blue-chip customer base gives Refresco a solid entrance into the Australian market. We look forward to building an even stronger platform together.”
Refresco said the acquisition expands its addressable market and provides opportunities to leverage its size and scale, as well as its track record of successfully integrating companies. Tru Blu Beverages fits right into Refresco’s business model, with its wide range of beverage solutions for retailer brands and global, national and emerging brands.
“Today’s announcement is a testament to our proven Buy & Build strategy. We started with one factory in Europe just over two decades ago and steadily built a diversified, pan-European platform. Only six years ago, we took our first step into North America. We now operate over 70 manufacturing sites globally, with just about half of those located across North America and the rest throughout Europe, offering a full range of beverage solutions to a broad customer base,” Roelofs commented.
Roelofs added that the company intends to continue expanding its global and strategically located footprint through a range of formats and channels. “We will continue to make selective investments and acquisitions, targeting value accretive opportunities,” he said.
