FDBusiness.com

Refresco Completes Acquisition of Whitlock Packaging

 Breaking News
  • Ardgowan Unveils Plans For Inverclyde Distillery Ardgowan Distillery has revealed ambitious designs for its new £12 million distillery which is being built on the Ardgowan Estate near Inverkip, 30 miles west of Glasgow. The plans showcase the flagship building which has just secured revised planning consent from Inverclyde Council. The striking new design, by Michael Laird Architects, brings a number of improvements [...]...
  • HKScan Launches Exports of Finnish Poultry Products to Sweden HKScan, the Nordic food and meat group, has started exporting Finnish poultry products to Sweden. They will initially be sold through the largest retailer ICA’s outlets under the Karinäs®(Kariniemen®) brand. The launch gives Swedish consumers access to a new innovation: high welfare farm-born poultry that is hatched on the farm where it is raised. This new concept is [...]...
  • Almonds Retain Top Spot For Nut Introductions in Europe According to Innova Market Research’s latest Global New Product Introductions Report, almonds retain the number one spot for nut introductions in Europe. With a 47% share of global almond product introductions, the region leads globally for the eleventh year running. Europe as a whole saw a total of 5,017 new introductions with almonds – a [...]...
  • Arla Foods UK Launches New Standards Model to Bring Sustainable Change to Dairy Farming With ongoing volatility in the global milk markets, increasing consumer misunderstanding of the sector, polarised levels of support for UK dairy farmers and a new post-Brexit Agriculture Bill the challenges for dairy farmers are mounting. Farmer-owned co-operative Arla Foods has launched ‘Arla UK 360’ – a new standard in UK dairy farming. The Arla UK 360 [...]...
  • €172 Million to Promote EU Agri-food Products In and Outside the EU The European Commission will provide funding of €172.5 million from the EU agricultural budget to promote EU agri-food products in Europe and across the world. 79 campaigns, covering a wide range of products such as dairy products, olives and olive oil, and fruit and vegetables, will be rolled out over the next three years. Agriculture and [...]...

Refresco Completes Acquisition of Whitlock Packaging

Refresco Completes Acquisition of Whitlock Packaging
September 12
12:02 2016

Refresco Group, the leading European bottler of soft drinks and fruit juices for A-brands and retailers, has successfully completed the acquisition of Whitlock Packaging, a large scale US bottler. The acquisition of Whitlock enables Refresco to create a new growth platform in North America with return and synergy potential, similar to Europe.

The purchase price is US$129 million (Eur117 million), on a debt and cash free basis. This represents an EV/adjusted EBITDA multiple of 7.3x and is in line with the average multiple paid by Refresco. The acquisition is expected to be earnings accretive in the first full year of consolidation. Refresco financed the transaction via the existing syndicated term loan facility.

Operating production facilties in the Benelux, France, Germany, Spain, Italy, the UK, Poland and Finland, Refresco realised full year volumes and revenue of about 6.1 billion litres and Eur2.0 billion, respectively in 2015. Refresco offers an extensive range of product and packaging combinations from 100% fruit juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass. Refresco is headquartered in Rotterdam, the Netherlands and has about 4,500 employees.

Whitlock Packaging was founded in 1980 and is headquartered in Tulsa, Oklahoma. It operates three production facilities across three states – Oklahoma, Florida and New Jersey. Whitlock Packaging is a leading contract manufacturer of liquid refreshment beverages including fruit drinks, juices, isotonic beverages (sports drinks), iced teas, energy drinks and other product types. Currently Whitlock Packaging produces approximately 900 million liters per year and has about 550 employees.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
  • October 31, 2018Int'l exhibition for food products and equipment (Indagra Food)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements