DIS acquired by REFRESCO
Context
Refresco acquired 100% of DIS. This transaction was highly strategic as it focused on "Canning"—a packaging format experiencing double-digit growth driven by the surge in energy drinks and craft sodas. The deal allowed Refresco to add approximately 800 million cans to its annual production capacity and secure a state-of-the-art facility in a prime logistical location.
DIS, which reported an EBITDA margin of [members only] in 2015, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average currently observed in the AgriFood sector (11.0x).
-> Deep-dive in AgriFood market trends
Target
DIS is a leading Dutch specialist in the contract manufacturing and canning of non-alcoholic beverages. The company operates high-speed production lines primarily dedicated to carbonated soft drinks, energy drinks, and flavored waters. DIS is renowned for its operational flexibility, handling both large-scale production for major global brands and specialized batches for private labels.
Ent. Value
€50–150M
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
Similar deals in Food Processing
Similar deals in Food Processing
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2016 | DANONE | MICHEL ET AUGUSTIN | FRANCE | Food Products |
| 06/2016 | ECOTONE | INEOBIO | FRANCE | Coffee & Tea |
| 03/2016 | CAMPARI GROUP | MARNIER-LAPOSTOLLE | FRANCE | Wines & Spirits |
| 12/2015 | IK PARTNERS | SALAD SIGNATURE | NETHERLANDS | Food Products |
| 12/2015 | JAB BEECH | KEURIG DR PEPPER | UNITED STATES | Beverages |
| 12/2015 | CORPFIN CAPITAL | EURO GAMMA | ITALY | Ingredients |
| 11/2015 | CONSTELLATION BRANDS | BALLAST POINT | UNITED STATES | Wines & Spirits |
| 10/2015 | ARDIAN | SOLINA GROUP | FRANCE | Ingredients |
| 09/2015 | NESTLE PURINA PETCARE | MERRICK PET CARE | UNITED STATES | Petfood |
| 07/2015 | GRUPO BIMBO | PANRICO | SPAIN | Food Products |
Other operations with REFRESCO
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 02/2026 | REFRESCO | SUNOPTA | UNITED STATES | Soft Drinks |
| 07/2025 | REFRESCO | TELEMARK KILDEVANN | NORWAY | Soft Drinks |
| 11/2024 | REFRESCO | FRÍAS NUTRICIÓN | SPAIN | Soft Drinks |
| 01/2023 | REFRESCO | AVANDIS | NETHERLANDS | Contract Bottling & Packaging |
| 02/2022 | KKR | REFRESCO | NETHERLANDS | Beverages |
| 10/2017 | PAI PARTNERS | REFRESCO | NETHERLANDS | Beverages |
REFERENCES
Valuation range: EV €50–150M
Revenue range: €50–100M
EBITDA range: €5–25M
EV/Revenue range: below 1.5x
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DIS by REFRESCO are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: refresco