Dutch Co-Packing Business DIS To Join Refresco Gerber
Refresco Gerber N.V., the leading European bottler of soft drinks and fruit juices for retailers and A-brand owners, announced that…
Refresco Gerber N.V., the leading European bottler of soft drinks and fruit juices for retailers and A-brand owners, announced that it has signed an agreement to buy 100 % of the shares in Dutch beverage manufacturer DIS. The share purchase price amounts to EUR 2 million, including debt the total purchase price equals 7.5x EBITDA.
DIS is focused on the filling of a wide range of cans with diverse non-alcoholic beverages such as carbonated soft drinks and energy drinks. DIS additionally fills beer in cans for regional and international brewers. The company employs 198 people and operates a high quality manufacturing site in Sittard, the Netherlands.
The annual production of DIS is approximately 300 million liters (800 million cans), 78 % soft drinks and 22 % beer. Co-packing for international brands accounts for 95 % of the volume and the remaining 5% is private label business with European retailers. The company has an annual turnover of approximately EUR 90 million.
Founded in 1964, DIS is an established co-packer with many long-standing customer relationships. This new development strengthens Refresco Gerber's position in co-packing, boosts its innovation power in the canning segment and creates opportunities to further optimize the manufacturing footprint and supply chain in the Benelux.
CEO DIS, Marco Geurten:
"We are excited to join forces with the Refresco Gerber Group. Together we will be in a better position to support our customers' international growth. Refresco Gerber's European platform offers a great opportunity to further develop DIS' co-packing business across Western Europe. I am looking forward to working with our customers, employees and the Refresco Gerber team to take our company to the next level."
CEO Refresco Gerber, Hans Roelofs:
"With DIS we take a next step in the execution of our buy & build strategy and enhance our co-packing position in the Netherlands. We also broaden our proposition and capabilities in the filling of cans. DIS' international co-packing concept has been very successful over the years and will be continued and broadened in the Refresco Gerber setting."
The transaction will be financed from existing credit facilities and available cash, and is subject to the approval of the competition authorities. Closing of the transaction is expected during the second quarter of 2016.