Kkr has signed an agreement to acquire a majority stake in the Refresco Group for an undisclosed sum. Founded in 1999, the company produces branded and private label beverages, with a portfolio that includes mineral waters, carbonated beverages, tea, sports drinks, isotonics and fruit juices. It has 70 manufacturing sites predominantly in Europe, the United States, Canada and Mexico, and the new investment will serve the company to further expand globally.

CEO Hans Roelofs said: "like all our shareholders, Kkr embraces our growth strategy and will guarantee us, in addition to access to capital, a consolidated network of contacts capable of supporting us in our development in terms of innovation and M&A". James Cunningham, partner of the investment firm, added: "The company has established itself as a leader in the beverage industry, has a global blue-chip customer base, an experienced and highly regarded management team is committed to sustainability, which is an important differentiator for its customers. We look forward to leveraging our operational experience to support the continued growth of the company".

The current investors, Pai Partners and British Columbia Investment Management Corporation, will retain a significant minority stake in the Group. The transaction is subject to the closing conditions.