According to Refresco CEO Hans Roelofs, annual growth of 6 per cent is predicted in the Italian private label soft drink market over the coming years.
“With the acquisition of Spumador, we will create a very sizeable position in an attractive new region,” said Roelofs.
Italy
The acquisition forms part of Refresco’s Buy & Build strategy, geared towards further strengthening and expansion of its position in the European beverage market.
The buy was also “another step towards the consolidation of the fragmented European market for private label soft drinks and fruit juices” said the CEO.
With a €170m turnover in 2009, Spumador is the largest producer of private label carbonated soft drinks (CSDs) in Italy and has five production locations in Northern Italy.
In addition to private label CSDs and mineral water, the company also manufactures ready-to-drink (RTD) iced teas, sport drinks and fruit juices and owns a number of trademarks, including San Antonio, Valverde and San Attiva.
“Spumador is a professional and reliable partner for the Italian retail. It is a company with a rich tradition and a management team that has proven to be very effective in developing the company,” said Roelofs.
The transaction is subject to anti-trust approval from the relevant authorities.
Germany
If the deal goes ahead, it will be the Dutch firm’s second substantial buy within a year.
In September 2010, the company expanded into the German market for private label soft drinks through the acquisition Soft Drinks International (SDI), a German producer of soft drinks and mineral water.
By acquiring the producer of soft drinks and water, who has a €140m turnover, Refresco intends to build and diversify its position in Germany.
Refresco has an expected revenue for 2010 of €1.2bn.