Refresco Signs Agreements with Leche Pascual and Schiffers Food
After signing the intentions to close both deals in the second half of last year, preparations for both deals were started and took place during the course of last year and the first months of 2009.
24/03/09 During last weeks, Refresco, European market leader in production of private label fruit juices and soft drinks, signed two agreements. In The Netherlands the agreement to acquire the soft drinks production site of Bavaria in Hoensbroek, known as Schiffers Food, was signed. In Spain a final agreement was achieved to closely cooperate with Leche Pascual in their Zumos Pascual production site. With these two deals Refresco confirms its Buy & Build strategy.
After signing the intentions to close both deals in the second half of last year, preparations for both deals were started and took place during the course of last year and the first months of 2009.
Schiffers Food
In The Netherlands Refresco acquires the soft drinks production site of Bavaria located in Hoensbroek, offering the opportunity to broaden its existing product-portfolio and to better serve the market. The production location employs over 60 people and will become part of the business unit Refresco Benelux, which with the acquisition now comprises four production locations in: Bodegraven, Maarheeze, Ninove (B) and Hoensbroek. In the Refresco Group the business unit Refresco Benelux is unique by offering a complete product portfolio, ranging from fruit drinks and juices to water, ice tea and energy drinks in all kinds of packaging in cans, carton and PET. The acquisition of Schiffers Food broadens the customer base and adds more production capacity in PET and water wells for an even more balanced spread in the product portfolio. Its geographical location allows for a closer proximity to customers in The Netherlands, Belgium and Germany. The completion date will be on April 18th.
Zumos Pascual
In Spain Refresco has reached a long-term agreement to closely cooperate with Zumos Pascual, part of Grupo Leche Pascual. Zumos Pascual's plant in Palma del Río employs over 100 people. Refresco will rent thisplant -excluding the fresh orange juice (NFC) pressing area and activities- to produce and pack Zumos Pascual juices and fruit drinks on site. To increase its existing production capacity, Refresco will add additional production lines and activities to the plant to supplyits other customers in Spain and Portugal. Finally the companies have agreed that Refresco yearly purchases a substantial volume of NFC orange juice produced by Zumos Pascual in Palma del Río. The completion date will be on April 1st.
