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| Refresco |
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| Business description: |
| Fruit juice producer |
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| Country: |
| Netherlands |
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| Investment type: |
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Buy-outs
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In September 2003, 3i led the €312 million buy-out of Refresco Holding BV, investing €60 million (together with Eurofund IV) and taking a substantial stake in the business. Refresco is one of Europe’s largest suppliers of fruit juices and soft drinks to food retailers, principally under private label.
This was a secondary buy-out from a Dutch/German/UK syndicate who were selling because they were unable to fund the continuing buy and build strategy.
3i’s Benelux team has known the management for over four years and also had strong contacts within the original investor group. The 3i team involved local Dutch investment professionals supported by London-based executives and our food sector specialists.
We introduced a chairman with experience of multi-site, international, low cost manufacturing and of growing businesses through acquisition and supplying to large retailers.
The investment strategy is to grow revenues and increase margins, both organically and by way of acquisition, in a rapidly consolidating European market. 3i has been active in using its network to source potential acquisition candidates. |
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