Refresco to acquire Spanish plant-based drinks firm Frías

Refresco, the global independent beverage solutions provider for retailers and brands, said it has entered into an agreement to acquire Frías Nutrición from Alantra Private Equity and the founding family.

Frías is a leading manufacturer of plant-based drinks with a production facility located in Burgos, Spain and employs around 250 people. Frías produces private label plant-based drinks, including almond, rice, hazelnut, and soy drinks, for key Spanish retailers and beyond.

“The acquisition of Frías significantly strengthens our position in the fast-growing plant-based drinks category. It complements our existing footprint in Spain with a production facility solely dedicated to plant-based products,” Hans Roelofs, Refresco chief executive, commented.

“In addition, acquiring Frías enables us to further expand our service offering to retailers and branded customers and retailers across Europe, accelerates our product innovation capabilities in the plant-based drinks category, and underscores our ability to capture opportunities in the market.”

Bruno Delgado-Luque, [artner Alantra Private Equity, added: “Since we acquired Frías in 2019, the company has been on a remarkable growth trajectory, confirming its leadership position in the Iberian Peninsula, and expanding its international business. Together with the Frías family, we launched a major investment plan that resulted in the creation of one of the most modern and efficient plant-based drinks factories in Europe. We are confident that Frías has a bright future ahead and will continue its successful growth with the support of Refresco.”

The transaction is subject to regulatory approval and is expected to be completed later this year. The financial terms of the deal are not disclosed.