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Acquisition

Refresco announces acquisition of HANSA-HEEMANN

2:30 min Markets and ManagementManagement
Rotterdam, Netherlands

Refresco, the world's largest independent bottler for retailers and A-brands in Europe and North America, announces it has entered into an agreement to acquire HANSA-HEEMANN. This transaction is subject to regulatory approval.

HANSA-HEEMANN, headquartered in Rellingen, Germany, is a family-owned, independent beverage manufacturer with five production sites spread across Germany. Its operational excellence, industry expertise and integrated value chain enable HANSA-HEEMANN to offer customers best-in-class service. The vast majority of HANSA-HEEMANN’s volume (60%) is in mineral water, with the remaining 40% of its volume in carbonated soft drinks (CSD). HANSA-HEEMANN serves three different market segments: private label, own brands, and contract manufacturing for A-brands. HANSA-HEEMANN employs over 800 people with an annual revenue of approximately €300 million.

Commenting on the transaction, Mr. Hans Roelofs, CEO Refresco Group said:

“We are very much looking forward to welcoming HANSA-HEEMANN to Refresco. Our companies are a great fit and HANSA-HEEMANN’s expertise and capabilities will allow us to further improve our operational excellence. In addition, this acquisition will further diversify our business and product offering, which will benefit our customers. Refresco Germany and HANSA-HEEMANN are highly complementary and through this acquisition, we will be able to offer nationwide coverage to German retailers.”

Mr. Wolff Lange, Chairman of HANSA-HEEMANN’s Supervisory Board said:

“It is a promising opportunity for our family business to join Refresco as it will enable the HANSA-HEEMANN team to apply their knowledge and expertise with more impact, at a much bigger scale. Our combined capabilities will accelerate our ambitions and further enhance our offering to customers.”

Strategic rationale

The announcement is a continuation of Refresco’s successful buy-and-build strategy which is a key driver of the company’s ongoing growth and value creation. With this acquisition, Refresco further enhances its position in terms of product and brand portfolio, and geographical coverage.

Acquiring HANSA-HEEMANN will bring Refresco:

  • Diversification of its business with additional products and capabilities, while maintaining a well-balanced business mix and customer base
  • Strong brands such as Fūrst Bismarck, hella and St. Michaelis
  • Expansion of its offering in water and CSDs
  • Increased presence in Germany, now offering nationwide coverage to retail customers
  • Acceleration of its operational excellence through HANSA-HEEMANN’s know-how in the water category
     

A changing market

Water is the largest category within the non-alcoholic beverage market. The landscape is highly competitive and rapidly changing with many smaller local and regional players who maintain a strong foothold. Branded players with a wide range of water products are looking for opportunities to grow with retail discounters.

In addition, the focus on sustainability continues resulting in for example, increased demand for recycled PET and reduction in operational carbon footprint.

Within this highly competitive and changing market, the acquisition of HANSA-HEEMANN will enable Refresco to enhance its presence in Germany – not only broadening relationships with German retailers, but also improving transport efficiencies and reducing CO2 emissions. Furthermore, Refresco will be able to leverage its global scale to further drive change in improving the sustainable use of resources.

Transaction highlights

  • The transaction is subject to regulatory approval.
  • Refresco will finance the transaction from its existing cash position.
  • The financial terms of the transaction are not disclosed.

 

www.refresco.com     www.hansa-heemann.de

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