Lucas Bols N.V. (“Lucas Bols”, Euronext: BOLS) and De Kuyper Royal Distillers (“De Kuyper”), two leading global cocktail spirits companies, and Refresco Group B.V. (“Refresco”) announce the completion of the sale of Avandis, a manufacturer of alcoholic beverages in the Netherlands, to Refresco, following receipt of regulatory approval and completion of the Works’ Council process.
Parties announced entering into an agreement on the sale of Avandis to Refresco on October 11, 2022. With the acquisition now completed, Refresco expands its offering to customers in the alcohol category, complementing the existing hard liquor capabilities in Europe. In addition to the sale of Avandis, Lucas Bols and De Kuyper also entered into a long-term contract manufacturing agreement, allowing Refresco to invest and expand the business.
Avandis’ production facility in Zoetermeer will now become part of the Refresco network, consisting of over 70 manufacturing facilities across Europe, North America and Australia. With this expansion, Refresco further strengthens its position as global independent beverage solutions provider to branded customers and leading retailers. In addition, Refresco moves one step closer to fulfilling its ambition of “Our Drinks On Every Table”.
The integration process will commence immediately, with Avandis to be rebranded as Refresco.
Source: Lucas Bols