FDBusiness.com

Netherlands-based Refresco Group is acquiring Spumador, the largest producer of private label carbonated soft drinks and mineral water in Italy from private equity firm Trilantic Capital Partners for an undisclosed sum. Refresco is the market leader in the production of private label soft drinks and fruit juices in Europe.

Spumador is a major producer for the Italian retail market with five production locations in Northern Italy. In addition to private label carbonated soft drinks and mineral water, Spumador 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.

In 2009, the company generated Eur170m in revenue, an increase of 7% compared to 2008, and produced a total of 958m litres, up more than 9% over the previous year.

The acquisition of Spumador is Refresco’s second substantial acquisition within a year. It follows the acquisition of Soft Drinks International (SDI), a German producer of soft drinks and mineral water with revenues of Eur140m in September 2010. The acquisition of Spumador is in line with Refresco’s ‘buy and build’ strategy, which is geared towards further strengthening and expanding Refresco’s leading position in Europe in the area of soft drinks and fruit juices. This is Refresco’s first move into the Italian market and marks another step towards the consolidation of the fragmented European market for private label soft drinks and fruit juices.

“With the acquisition of Spumador, we will create a very sizeable position in an attractive new region. It is our first step into the growing Italian private label market, where growth of 6% is predicted in the soft drink market segment for the coming years,” points out Hans Roelofs, chief executive of Refresco. The transaction is expected to be completed within a few months.