Refresco Acquiring Spanish Beverage Maker Frías Nutrición
Beverage solutions provider Refresco has entered into an agreement to acquire Frías Nutrición (Frías) from Alantra Private Equity and the founding family.
Frías is a leading manufacturer of plant-based drinks with a production facility located in Burgos, Spain, and employs around 250 people. Frías produces private label plant-based drinks, including almond, rice, hazelnut, and soy drinks, for key Spanish retailers and beyond.
“As part of our proven Buy & Build strategy, we are looking to expand our capabilities in existing and adjacent beverage categories,” said Hans Roelofs, CEO of Refresco. “The acquisition of Frías significantly strengthens our position in the fast-growing plant-based drinks category. It complements our existing footprint in Spain with a production facility solely dedicated to plant-based products.”
Roelofs said the acquisition also further enables Refresco to expand its offerings to retailers, accelerate its product innovation capabilities in the plant-based drinks category, and underscores the company’s ability to capture opportunities in the market.
Bruno Delgado-Luque, a partner with Alantra Private Equity, noted that Frias over the past five years has enjoyed strong growth and expanded its international business. This included a major investment plant resulting in the construction of a modern beverage factory.
“We are confident that Frías has a bright future ahead and will continue its successful growth with the support of Refresco,” he added.
The transaction is subject to regulatory approval and is expected to close later this year. Financial terms of the transaction were not disclosed.
