Refresco, a global independent beverage solutions provider for global, national, and emerging (GNE) brands and retailers in Europe, North America, and Australia, announced it has completed the acquisition of VBC Bottling Company.
VBC, a family-owned contract manufacturer of premium beverages, is strategically located in Modesto, California. The acquisition of VBC Bottling Company complements Refresco’s footprint and capabilities in North America, and further strengthens its ability to provide beverage solutions to branded customers.
CEO Refresco, Hans Roelofs, commented: “Acquiring VBC is another step in executing our proven Buy & Build strategy. The company’s strong customer base, strategically located facility, and warehousing capacity further strengthens our footprint in North America. Additional canning capacity along the West Coast improves our ability to service all our contract manufacturing customers.”
Brad Goist, Chief Operating Officer at Refresco North America, said: “This acquisition is a step forward towards Refresco’s vision of ‘Our drinks on every table.’ We will integrate VBC Bottling Company into our operations to better serve our customers and support their growth goals in the various categories where capacity is needed. I look forward to welcoming the more than 180 employees to the Refresco team and seeing what successes we accomplish together as a team and in the years to come.”
About Refresco Refresco is a global independent beverage solutions provider for global, national, and emerging brands and retailers with production in Europe, North America, and Australia. Refresco offers an extensive range of product and packaging combinations from juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass. Refresco continuously searches for new and alternative ways to improve the quality of its products and packaging combinations in line with consumer and customer demand, environmental responsibilities and market demand. Refresco is headquartered in Rotterdam, the Netherlands and has more than 14,500 employees.
Together they continue to revolutionise the fruit preparation industry
Aran Group, a leading manufacturer of bag-in-box solutions, announces the successful completion of the acquisition of a majority stake in IBA Germany from previous owner Liquid Concept GmbH (LC). This strategic acquisition marks a significant milestone in Aran’s growth journey, providing an exceptional opportunity for developing 1000-liter IBC (Intermediate Bulk Containers) and a strong foothold in the large German market. The acquisition also positions Aran to penetrate nearby markets, including Scandinavia. The Aran-IBA operation is led by Managing Director Dan Abraham alongside Sascha Siebel, COO & Chief Engineer and a worldwide expert in BIB and food packaging.
(Photo: Aran)
Lior Mor, CEO of Aran Group, conveyed his excitement about the new acquisition: “This is a tremendous commercial, managerial, and leadership opportunity for all of us at Aran and IBA. With the support of the board and management and Aran staff, we aim to achieve significant milestones in the near future. Welcoming the latest addition to our group, IBA is officially part of the Aran Group as of January 2024, enhancing our presence in Europe. This strategic acquisition joins our existing plants in Spain, the USA, and Israel, further solidifying our global footprint. Congratulations and success to all of us at Aran and IBA on this exciting new chapter.”
“This acquisition will allow the Aran Group to become a significant player in 1000-liter aseptic packaging solutions for transporting sensitive food products”, says Dan Abraham. “It will also serve as a base of activity for the entire group in the German market and neighboring countries.
Revolutionary partnership drives industry advancements
IBA is known for its innovative solutions, based on the creative innovation led by Sascha Siebel. Headquartered in Luhne Germany IBA is a key player in the production and sale of flexible IBCs for transporting high-quality food products. The IBA Tainer aseptic IBC is a patented 1000-liter container designed for transporting liquid food. Featuring a protective cage and a disposable flexible bag. This inventive solution offers a cost-effective alternative to traditional stainless-steel containers and ensures an aseptic environment with excellent barriers to safeguard the product. This eliminates the need for complex washing and sterilisation processes, mitigating the risk of contamination and preserving the integrity of the valuable contents. Beyond its economic advantages, IBA Tainer is a significantly lighter solution, reducing the required energy during the entire value chain.
Aran’s partnership with IBA, spanning 10 years, has facilitated mutual growth. The acquisition of IBA by Aran is expected to intensify market penetration in Europe, particularly in Germany, where the bag-in-box market generates 45-50 million euros. It will enable Aran to leverage its global network for exporting IBA products beyond Germany, using both the unique tap and IBA Tainer. The deal also lays the groundwork for expanding into neighboring markets.
Aran and IBA’s combined capabilities and technology are expected to drive substantial growth in the coming years.
Bucher Unipektin has acquired the Polish company B&P Engineering Sp. z o.o., a manufacturer and supplier of equipment for juice and concentrate production. With the acquisition, Bucher Unipektin further strengthens its position as a leading supplier of fruit juice processing systems and technologies.
B&P Engineering Sp. z o.o., a privately held Polish company founded in 2003, designs, manufactures and installs engineered equipment for juice and concentrate production as well as stainless-steel tanks for the beverage industry. Its 450 employees generated annual net sales of around CHF 30 million in the past years. The company is located in Przeworsk and has a modern setup for parts and tanks production. All employees and the very dedicated management team will remain in place and operate under the new name Bucher Unipektin Sp. z o.o.
With this acquisition, Bucher Unipektin is in the position to supply its beverage customers with entire processing lines, complementing its high-tech equipment with B&P’s systems and vessels, and to provide an enhanced sales and after-sales service to its customers.
Bucher Unipektin, a Swiss-based business unit of Bucher Industries AG, is a globally leading manufacturer of systems and components for the juice and the beer industry and for drying technologies. The business unit’s production sites are in Switzerland, Spain, Germany, Czech Republic and China, supported by a sales and service organisation in Poland, Ukraine, Russia, New Zealand and Mexico and a global distribution network.
Refresco Group B.V., the global independent beverage solutions provider for Global, National and Emerging brands and retailers in Europe and North America, today announces it has entered into an agreement to acquire Tru Blu Beverages Pty Ltd., one of Australia’s leading manufacturers of non-alcoholic beverages. This transaction is subject to regulatory approval.
CEO Refresco, Hans Roelofs, comments: “Today’s announcement is a testament to our proven Buy & Build strategy. We started with one factory in Europe just over two decades ago and steadily built a diversified, pan-European platform. Only six years ago, we took our first step into North America. We now operate over 70 manufacturing sites globally, with just about half of those located across North America and the rest throughout Europe, offering a full range of beverage solutions to a broad customer base. The acquisition of Tru Blu Beverages in Australia creates a new platform for Refresco, in line with our strategic promise to expand into a third continent. The three strategically located manufacturing sites are the starting point for our future footprint in the region. Acquiring Tru Blu Beverages further strengthens our position as beverage solutions provider to branded customers and leading retailers globally, and provides new opportunities for further growth.”
CEO Tru Blu Beverages, Peter Brooks, adds: “By joining Refresco, our customers, suppliers and employees will be able to benefit from the Company’s broad capabilities, experience and expertise. We are proud to become part of the Refresco family, with its strong entrepreneurial spirit and passion to deliver quality service to its customers. Tru Blu Beverages’ leading capabilities and blue-chip customer base gives Refresco a solid entrance into the Australian market. We look forward to building an even stronger platform together.”
Strategic rationale
The acquisition of Tru Blu Beverages expands Refresco’s addressable market and provides opportunities to leverage Refresco’s size and scale, as well as its track record of successfully integrating companies. Tru Blu Beverages fits right into Refresco’s business model, with its wide range of beverage solutions for retailer brands and global, national and emerging brands. In addition, Refresco’s strategic ESG agenda will enable Tru Blu Beverages to accelerate its efforts of minimising the environmental impact of manufacturing processes, packaging and transport.
Refresco obtains a national Australian market position by acquiring Tru Blu Beverages, with opportunities to drive continued growth in the region, both organically and through acquisitions.
Refresco intends to continue expanding its global and strategically located footprint to better serve existing and new customers through a range of formats and channels. The company will continue to make selective investments and acquisitions, targeting value accretive opportunities.
About Tru Blu Beverages Tru Blu Beverages is a privately-owned beverage manufacturer focused on providing non-alcoholic beverages to Australia’s largest retailers and brand owners. Tru Blu Beverages employs over 400 staff and has three manufacturing facilities, located in Sydney, Brisbane and Perth, supported by a distribution network with warehouses in all major Australian capital cities.
Today, Lucas Bols N.V. and De Kuyper Royal Distillers, two leading global cocktail spirits companies, and Refresco Group B.V. announce that they have entered into an agreement in which alcoholic beverage manufacturer Avandis will be acquired by Refresco. As part of the agreement, Lucas Bols and De Kuyper have entered into a long-term manufacturing contract with Refresco. The transaction is subject to regulatory approval and to a Works’ Council consultation process.
Avandis, a 50/50 joint venture of Lucas Bols and De Kuyper, is a leading beverage manufacturer based in Zoetermeer, the Netherlands. They have one of Europe’s most advanced bottling facilities for distilled beverages. Avandis provides a wide range of contract manufacturing solutions to brand owners in the alcohol category. Refresco fully supports Avandis’ growth strategy.
Transaction highlights
The transaction includes a long-term contract manufacturing agreement with both Lucas Bols and De Kuyper, allowing Refresco to invest and expand the business
The purchase price for 100 % of the shares in Avandis amounts to EUR 25 million, to be adjusted for Avandis’ net debt position (31 March 2022: EUR 15 million) and any working capital adjustments, both as at completion date
This transaction is subject to regulatory approval and the consultation process with the respective Works Councils
Pending approval and Works’ Council processes, completion is expected by the end of 2022
Celerant Capital, a specialised private equity sponsor, announced the acquisition of Krier Foods, a fifth-generation family-owned beverage company.
Founded in 1908, Krier is a premier manufacturer of a wide variety of Ready to Drink (RTD) beverages packaged in aluminum cans. Krier has a long history of driving canned beverage innovation through its Jolly Good brand and providing high quality contract manufacturing services for its customers’ portfolio of established and emerging brands. Krier’s production of carbonated sodas dates to the beginnings of the package format in the 1960s. With decades of institutional knowledge and a modern facility, Krier will continue its legacy of quality, service, and enabling its customers’ growth. Krier’s dedicated team and culture of excellence will continue to be the foundation of the Company’s success.
Krier announced the appointment of John Kowalchik, formerly CEO of Baxters North America and a veteran co-manufacturing leader, as its new CEO. Former CEO, John Rassel, who will continue as an advisor to the Company, will transition out of the day-to-day leadership of the Company to pursue charitable and community opportunities in Southeast Wisconsin. The senior leadership team of Krier will continue to lead it from its headquarters in Random Lake, WI (US).
Celerant Capital is a specialised private equity sponsor led by food manufacturing industry veterans that focuses exclusively on investing in food, beverage and enabling technologies. With highly-experienced senior industry professionals, Celerant focuses on acquiring businesses with competitive advantages and significant opportunities for value creation.
1893 – It was the year of inventions that are still indispensable today, such as the diesel engine by Rudolf Diesel and the zipper by Whitcomb Judson. And 1893 also showed what persistence means. Andy Bowen and Jacke Burke fought a seven-hour, 19-minute boxing match over 110 rounds – with no winners in the end. At the same time, the businessman Franz Ramesohl and the cabinetmaker Franz Schmidt in Oelde, Westphalia, proved their innovative strength, creativity and stamina. They opened a workshop on September 1, 1893, and produced a hand-operated milk centrifuge with the model name “Westfalia”. Ramesohl & Schmidt oHG had three locksmiths and two turners 125 years ago. They produced the hand-operated milk centrifuges with the simplest but effective equipment. Entrepreneurial skills, craftsmanship and technical expertise coupled with a love for innovation formed the basis for the following 125 years.
The roots of the company developed into today’s GEA site, the most modern separator plant in the world. The products “made in Oelde” are supplied all over the world. The export quota is currently over 80 percent. GEA’s expertise now encompasses over 3,500 different processes and 2,500 products for various industries ranging from food and beverage, marine, oil and gas to power, chemical, pharmaceutical and environmental technology.
Regionally rooted, globally active
Today, Oelde is GEA’s largest single site worldwide with a production area of around 37,000 square meters. Around 1,900 employees, 180 of whom are trainees, are currently working in the areas of design, production and administration. GEA invested heavily in the site in 2013. “We had and still have the clear ambition not simply to swim in the global competition, but to determine it by increasing efficiency,” says Steffen Bersch, member of the GEA Executive Board, who worked for many years in Oelde himself. For example, the new building in Oelde, which was built in 2013, was essentially based on the idea of sustainability: its own combined heat and power plant with an electrical output of 1.2 MW reduces the CO2 footprint and generates enough electricity to supply more than 2,000 average households. The new separator production enables GEA to optimize processes throughout the entire production process. The use of well-trained and committed employees in conjunction with modern production machines and technologies has led to significantly reduced throughput times in the production of the separators and plants, most of which are customized to the customer’s needs, while maintaining above-average product quality.
The company’s own Process Test Center (PTC), which opened in 2014 and provides extensive specialist support for customers’ investment projects, also enables even greater customer orientation: Starting with the specification of product properties through the determination and design of machine types to pilot tests at GEA and on site at the customer’s premises. In cooperation with the customer, GEA Product Managers and GEA Process Development, the PTC also develops and tests completely new processes. The PTC also underscores GEA’s innovative strength as a leading international technology group. More than 11,000 tests and process developments as well as more than 18,000 laboratory product analyses have been carried out to date. This know-how is bundled in a database, which is supplemented and updated every year by around 500 new product tests and over 150 process developments.
In order to reliably ensure maximum customer satisfaction and continuous machine availability during operation, the supply of spare parts is coordinated centrally from Oelde and in cooperation with renowned logistics companies via so-called hubs. These spare parts centers are currently located in Cologne, Germany (since 2011), Singapore (since 2014) and Naperville, USA (since 2017). At the European Parts Logistics Center (EPLC) in Cologne, around 21,000 different articles – from 5 mm diameter sealing rings to machine parts weighing several hundred kilograms – can be retrieved in the shortest possible time; on average, 250 shipments are handled daily. GEA customers can call this service 24/7 via a hotline. If an order is received by 3 p.m. local time, it is guaranteed to be ready for dispatch on the same day. Particularly urgent shipments even leave the site within an hour.
Exploiting the opportunities offered by digitization
The continuously and ever faster progressing digitization changes customers, markets and last but not least GEA. Finding the right answers with innovative digital products and services is crucial for tomorrow’s competitive advantage,” explains Brinke. GEA sees digitization above all as an opportunity and a pioneer for new growth and development potential, both in the new machine sector and with regard to the growing range of service solutions.
A current example from the service sector: GEA PerformancePlus includes service packages that go far beyond traditional maintenance and are an ideal complement to an industry 4.0 strategy. This uncovers optimization potentials that enable sustainable plant operation. Modern technologies for condition monitoring combined with the know-how of GEA employees provide the customer with meaningful condition analyses and information for decision-making with regard to possible process optimizations – with the aim of permanent availability and maximum productivity. At the same time, changed production requirements can be better assessed and orders can be scheduled in an economically optimal manner.
Strengthened by 125 years of success, GEA Separation continues to follow in the footsteps of digital transformation – and so this anniversary not only marks a milestone in the company’s history. At the same time, it is an incentive to push ahead with innovations and continue to improve customer processes and, not least, people’s lives in the long term – in other words, “engineering for a better world”.
Krones, the world’s leading manufacturer of filling and packaging technology, continued its stable growth in the first half of 2017. Overall, revenue improved 13.8 % year-on-year to €1,775.2 million. Adjusted for acquisitions, revenue was up 10.2 %. The increase was partly due to a relatively low baseline of sales in the first half of 2016. The strongest revenue growth came in the North and Central America, Asia-Pacific, and South America/Mexico regions in the period from January to June 2017.
Order intake at Krones increased 11.0 % in the first half of 2017 to €1,779.3 million. Adjusted for acquisitions, order intake was up 4.7 % year-on-year. Orders growth in Western Europe and Latin America was higher than overall orders growth. Order intake in China was lower. In the Asia-Pacific, North America, and Middle East/Africa sales regions, order intake was stable. At €1,148.8 million, orders on hand at Krones at the end of June 2017 were up 1.1 % over the year-earlier period.
EBT margin is 6.8 % after six months
Krones improved earnings before taxes (EBT) by 12.8 % to €121.0 million in the period from January to June 2017 despite a highly competitive market situation. As expected, market prices provided no support. By contrast, the Value strategy programme, with which Krones is increasing efficiency throughout the company, had a positive impact. At 6.8 %, the EBT margin for the first six months of 2017 was nearly unchanged year-on-year (previous year: 6.9 %). After taxes, net income was up 10.8 % to €82.4 million. Earnings per share increased from €2.37 in the previous year to €2.64.
The ratio of average working capital for the past four quarters to revenue came to 26.3 %, after 25.5 % in the year-earlier period. However, the ratio is an improvement over the first quarter of 2017 (26.8 %).
The return on capital employed (ROCE) increased to 16.3 % (previous year: 15.6 %). In the period from January to June 2017, the company generated operating free cash flow of -€126.7 million (previous year: -€155.5 million), which is an improvement of around €30 million.
Krones forecast for 2017 is unchanged
The company’s revenue growth target (excluding acquisitions) for the year 2017 as a whole remains 4 %. Profitability should be stable this year. Krones expects the EBT margin to be around 7.0 % for the year 2017. For its third financial performance target, working capital to revenue, the company is forecasting 27 % for the current financial year.
