Refresco Gerber has built on its footprint in the German soft drinks and fruit juices market with an agreement to buy the PepsiCo’s bottling plant in Hamburg, Germany.
The deal, for an undisclosed price, further strengthens the European bottler of soft drinks and fruit juices for retailers and brand owners’ relationship with PepsiCo, for which it already provides co-packing activities in France, Spain, Benelux and the UK.
Hans Roelofs, Refresco Gerber’s chief executive, said: “This transaction lies at the heart of our buy and build strategy and confirms our focus on expanding our co-packing business.”
Germany was an important region for the company and the deal gave Refresco Gerber “an important leap forward” in its German co-packing activities and further improved its market presence, Roelofs said.
The acquisition, which is expected to be completed in the second quarter, is subject to the approval of German competition authorities.
Refresco Gerber reported a 3.2% increase in adjusted EBITDA in the third quarter of last year to €61.6m (£48.6m).