The transaction also covers long-term agreements for contract manufacturing activities
Refresco, an independent bottler of beverages, has agreed to acquire three US hot-fill production facilities from Coca-Cola for an undisclosed sum.
Under the deal, Refresco will acquire production facilities located in Truesdale, Missouri, Waco, Texas and Paw Paw, Michigan.
The transaction also covers long-term agreements for contract manufacturing activities.
Refresco North America COO Brad Goist said: “Adding three hot-fill production sites to our footprint is a great opportunity to further enhance our offering. I am convinced that our Retail and A-brand customers across North America will be able to benefit from our extended capabilities and broadened geographical footprint.”
All three hot-fill production facilities are said to be complementary to Refresco North America’s current manufacturing operations.
Refresco will also serve as one of Coca-Cola’s strategic third-party contract manufacturers in the US.
Refresco stated that the acquisition is in line with the company’s buy-and-build strategy to further focus on expanding and strengthening its manufacturing footprint across Europe and North America to service both retailers and A-brands.
Refresco CEO Hans Roelofs said: “The ongoing trend of A-brands outsourcing their production capabilities continues to provide opportunities for us as an independent beverage solutions provider.
“With manufacturing and supply chain being at the heart of our business, the acquisition of three Coca-Cola facilities in the US is another step forward in our growth strategy.”
The deal is subject to regulatory approval. Refresco will fund the transaction from its existing cash resources.
In November 2019, Refresco agreed to acquire Arizona Production & Packaging’s (AZPACK) manufacturing operations in Tempe, Arizona.
Refresco provides a range of product and packaging combinations from 100% fruit juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass.