The Dutch-based beverage solutions provider Refresco has announced the acquisition of the Norwegian private label bottler Telemark Kildevann Holding AS (TKV). The transaction, which is still subject to regulatory approval, marks a key step in Refresco’s Buy & Build strategy to strengthen its presence in the Nordic region.
TKV, a family-owned company with around 60 employees, operates two production sites in Fyresdal and Aurskog. Since 1998 and 2013 respectively, these facilities have been producing PET and Tetra Pak beverages for a wide range of customers, with a total capacity of 450 million units per year. The company specializes in soft drinks and bottled water, maintaining long-standing relationships with retailers and branded customers across Norway and Sweden.
With this acquisition, Refresco will enhance its regional capabilities, expanding its already significant footprint in Northern Europe, which includes operations in Finland. The move follows Refresco's acquisition by PAI Partners in 2022 and its continued backing by KKR, as it pursues a targeted expansion strategy across key markets.
Hans Roelofs, CEO of Refresco, emphasized the strategic value of the acquisition: “The acquisition of TKV marks another milestone in the execution of our proven Buy & Build strategy, further reinforcing our presence in Europe. TKV’s loyal customer base, strong capabilities, and well-established market position enhance our ability to serve retailers and branded customers in Norway, Sweden and beyond.”
Financial terms of the deal have not been disclosed, and the closing is expected later in 2025.
