Lucas Bols and De Kuyper Royal Distillers, two cocktail spirits companies, have agreed to sell alcoholic beverage manufacturer Avandis to bottling giant Refresco.
As part of the agreement, Lucas Bols and De Kuyper have entered into a long-term manufacturing contract with Refresco.
Avandis, a 50/50 joint venture of Lucas Bols and De Kuyper, is a beverage manufacturer based in Zoetermeer, the Netherlands. They have one of Europe’s most advanced bottling facilities for distilled beverages. Avandis provides a range of contract manufacturing solutions to brand owners in the alcohol category.
Huub van Doorne, CEO, Lucas Bols, said: “We are confident that Refresco offers the best environment for Avandis to thrive. At the same time the transaction allows us to fully focus on our core activity: creating great cocktail experiences around the globe. We will benefit from Refresco’s, size, scale, and expertise in manufacturing beverages as our brands will continue to be manufactured by Avandis under the new ownership. We look forward to a close collaboration with them for many years to come.”
CEO of Refresco, Hans Roelofs, added: “This acquisition is a step change in expanding our offering to customers in the alcohol category and complements our existing hard liquor capabilities in Europe. As part of our Buy&Build strategy, we aim to expand in beverage categories that offer significant growth potential. As alcohol is one of those categories, this acquisition will make for a great fit and perfectly suits our company vision of ‘Our drinks on every table’. I look forward to welcoming the Avandis team to Refresco.”
The transaction is subject to regulatory approval but is expected to be completed by the end of this year.
