Refresco expands plant-based beverage portfolio with Frías Nutrición acquisition 

SPAIN – Refresco, a global independent beverage solutions provider, has successfully completed the acquisition of Frías Nutrición, a leading Spanish manufacturer of plant-based drinks.  

The transaction, first announced on July 22, 2024, marks a significant step in Refresco’s strategy to strengthen its presence in the growing plant-based beverage market.  

The financial terms of the transaction were not disclosed. 

Frías Nutrición, headquartered in Burgos, Spain, produces private label plant-based beverages, including almond, rice, hazelnut, and soy drinks, catering to key Spanish retailers and international markets.  

With a workforce of approximately 250 employees, Frías is recognized for its advanced production capabilities and leadership in the Iberian Peninsula’s plant-based drinks sector. 

Refresco CEO Hans Roelofs commented on the acquisition, stating, “As part of our proven Buy & Build strategy, we are looking to expand our capabilities in existing and adjacent beverage categories. The acquisition of Frías not only enhances our footprint in the plant-based drinks market, but it also allows us to better serve our European customers and accelerates our product innovation capabilities.  

We are excited to welcome the talented Frías team and are dedicated to a seamless integration process that will drive mutual growth.” 

Refresco’s acquisition of Frías follows its recent purchase of the Grüneberg mineral spring site in Brandenburg, Germany, from Berentzen Group AG subsidiary Vivaris GmbH & Co KG in November.  

The Grüneberg transaction included the water brands Märkisch Kristall and Grüneberg Quelle, bolstering Refresco’s operations in the Berlin-Brandenburg region.  

Refresco Germany will also continue producing the Vivaris brand Mio Mio at the Grüneberg facility, which manufactures a range of water and soft drink products. 

According to Bruno Delgado-Luque, Partner at Alantra Private Equity, which previously held ownership of Frías, the company experienced remarkable growth since its acquisition in 2019.  

“Together with the Frías family, we launched a major investment plan that resulted in the creation of one of the most modern and efficient plant-based drinks factories in Europe. We are confident that Frías has a bright future ahead and will continue its successful growth with the support of Refresco,” Delgado-Luque remarked. 

The acquisition aligns with Refresco’s Buy & Build strategy, reinforcing its position as a leader in beverage solutions across Europe, North America, and Australia.  

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