It’s less than one month ago that Refresco, bought Hansa-Heeman, a major German mineral water and CSD company. (inside.beer, 8.7.2021) Today, the world's largest independent bottler for retailers and A-brands in Europe and North America announced two further major acquisitions.
On August 2, Refresco acquired Southeast Bottling & Beverage (SEBB), a ready to drink manufacturer and according to its website “the leader in the beverage co-packing industry”. With this acquisition Refresco wants “to expand its incubation capabilities for contract manufacturing customers looking for flexibility as they launch new, complex and innovative products. As their need for production capacity increases, customers will be able to leverage our existing footprint across North America,” reads a press statement today.
One day later, on August 3, 2021, Refresco entered into an agreement with The Coca-Cola Company to acquire three of its production facilities in the United States, pending regulatory approval. The transaction relates to the production sites in Truesdale, Missouri, Waco, Texas and Paw Paw, Michigan. “The ongoing trend of A-brands outsourcing their production capabilities continues to provide opportunities for us as an independent beverage solution 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,” Refresco said.
The company also reported that one of its German facilities in Erftstadt was hit by the recent flooding. (jnside.beer, 25.7.2021) All employees are safe but the production facility was temporarily closed. The company is currently in the process of analyzing the impact of the flooding.
The company, which is based in Rotterdam, the Netherlands, today also released its half year results. Total volume was 5,986 million liters (YTD 2020: 5,745 million liters), gross profit margin was EUR 1,009 million (YTD 2020: EUR 925 million) and adjusted EBITDA amounted to EUR 278 million (YTD 2020: EUR 241 million). Net debt was EUR 2,568 million (YTD 2020: EUR 2,896), which included EUR 117 million shareholder funding. In Q4 2020, the shareholder loan plus accrued interest have been converted into equity.
"We are pleased to report a strong performance in the second quarter of 2021,” commented Hans Roelofs, CEO of Refresco. “We have been able to accelerate our growth in volume and profitability this quarter, ending the first six months of 2021 with good results. We have strengthened the business organically by growing along with our customers, specifically in Contract Manufacturing. As we move into the second half of the year, we are facing increasing cost pressure on commodities and transportation, with higher inflation levels across all regions in which we operate.”