REFRESCO acquired by PAI PARTNERS

Refresco has entered into a definitive agreement to acquire 100% of SunOpta for $6.50 per share in an all-cash transaction. The strategic rationale for the deal is to significantly bolster Refresco’s position in the fast-growing North American plant-based beverage market, utilizing SunOpta’s specialized aseptic manufacturing footprint as a platform for regional expansion. The acquisition is highly complementary, filling geographic gaps in Refresco’s US operations while adding advanced R&D and formulation capabilities in the plant-based milk and broth categories

Refresco has completed the acquisition of Telemark Kildevann Holding AS (TKV), a Norwegian beverage and mineral water producer, following the announcement of the transaction in May 2025. The deal was finalized after obtaining the customary regulatory approvals and satisfying the closing conditions. This acquisition is a key milestone in Refresco's "Buy & Build" strategy, which aims to strengthen its industrial footprint in Europe and consolidate its positions in attractive regional markets. The acquisition enables the group to expand its production capabilities in the Nordic countries, a strategic region where it was already present in Finland, and enhance its service offering to distributors and branded customers in Norway and Sweden

Refresco has completed the acquisition of Frías Nutrición, a Spanish specialist in plant-based beverages, following the announcement of the transaction in July 2024 and the satisfaction of regulatory conditions. This move is part of Refresco's "Buy & Build" strategy, aimed at strengthening its presence in the high-growth plant-based beverage segment, which is considered a strategic category within the non-alcoholic beverage industry. The acquisition enables the group to consolidate its position in Spain, where Frías operates a dedicated production facility and maintains strong relationships with major retailers

Refresco has completed the acquisition of Avandis, a Dutch manufacturer of alcoholic beverages, from Lucas Bols and De Kuyper Royal Distillers, two leading players in the spirits and cocktail industry. The transaction was finalized in January 2023, following the signing of the initial agreement in October 2022 and the receipt of regulatory approvals. Avandis is a contract manufacturer specializing in the production of alcoholic beverages, headquartered in Zoetermeer, Netherlands. The company provides manufacturing solutions for spirits and cocktail brands, with a strong expertise in complex products and private-label productions

KKR acquired a majority stake in Refresco from PAI Partners and British Columbia Investment Management Corporation (BCI). This transaction marks the exit of PAI and BCI after a highly successful four-year holding period, during which the group's enterprise value nearly doubled. Under PAI's ownership, Refresco completed significant acquisitions, including Cott's bottling activities and various regional players, solidifying its position as a global leader.

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.