Refresco announces the acquisition of Frías, one of Spain’s leading manufacturers of plant-based beverages

Refresco announces the acquisition of Frías, one of Spain’s leading manufacturers of plant-based beverages

Rotterdam, Netherlands, July 22, 2024 – Refresco, a global independent provider of beverage solutions to retailers and global, national and emerging (GNE) brands in Europe, North America and Australia, today announced that it has entered into an agreement to acquire Frías Nutrición (“Frías”) from Alantra Private Equity and the founding family. This transaction is subject to regulatory approval.

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

Hans Roelofs, CEO of Refresco, commented:
“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 significantly strengthens our position in the growing plant-based beverage category and complements our existing presence in Spain with a production facility exclusively dedicated to plant-based products.

“Furthermore, the acquisition of 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 beverage category and underscores our ability to capture market opportunities.”

Bruno Delgado-Luque, Partner at Alantra Private Equity, added:
“Since acquiring Frías in 2019, the company has experienced remarkable growth, confirming its leading position in the Iberian Peninsula and expanding its international operations. Together with the Frías family, we have launched a major investment plan that has resulted in the creation of one of the most modern and efficient plant-based beverage plants in Europe. We are confident that Frías has a bright future ahead of it and that it will continue to grow successfully with the support of Refresco.”

Transaction Highlights

• The transaction is subject to regulatory approval.

• The transaction is expected to close later this year.

• Financial terms of the transaction were not disclosed.

About Refresco
Refresco is an independent global supplier of beverage solutions for global, national and emerging brands and retailers, with production in Europe, North America and Australia. Refresco offers a wide range of product and packaging combinations, from juices to carbonated soft drinks and mineral waters in carton, PET, aseptic PET, cans and glass. Refresco is constantly looking for new ways to improve the quality of its products and packaging combinations based on consumer and customer demand, environmental responsibilities and market demand. Refresco is headquartered in Rotterdam, the Netherlands, and has over 14,500 employees. www.refresco.com

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About Alantra Private Equity
Alantra Private Equity is a pioneer in the Iberian private equity market with over 30 years of experience and investments of approximately €2 billion. It has a unique and proven track record in the Food & Beverage, Healthcare and Industrial Technology sectors during different economic cycles. Since 1990, Alantra Private Equity has made investments in over 120 assets (60 platforms and 65 add-ons) and has completed over 50 exits.

Media Contacts
Refresco Corporate Communications
Hendrik de Wit
+31 6 1586 1311
[email protected]

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