Refresco completes acquisition of Cott's bottling activities

Creating the world's largest independent bottler for retailers and A-brands

Rotterdam, the Netherlands - 30 January 2018 Refresco (Euronext Amsterdam: RFRG), an independent bottler of beverages for retailers and A-brands in Europe and the US, today announces completion of the acquisition of the bottling activities of Cott (NYSE: COT, TSX: BCB).

In combining Refresco's strong European capabilities and Cott's strength in the UK and North America, Refresco almost doubles its production volume to approximately 12 billion liters. The combination provides customers access to seamless service across geographies and an unrivalled production platform with access to all non-alcoholic beverages categories. Refresco now has a footprint of 59 facilities in 12 countries, employing over 9,500 people.

CEO Refresco, Hans Roelofs:"Today's completion signals an important moment reinforcing our position as the leading industry player. Combining the two businesses is in the heart of our buy & build strategy. The joined business will be well positioned to meet customers' continuously changing needs and requirements and offers ample opportunity for employees to develop their careers in an increasingly international setting. The company has a well balanced portfolio with exposure to all categories for retailers and a strengthened contract manufacturing exposure with unique geographical spread for branded beverage companies. With its increased scale, Refresco will have greater opportunities to invest in innovation, to further optimize our business and achieve profitable growth. I look forward to welcoming our new colleagues in the US, Canada, UK, and Mexico and to the exciting opportunities ahead."

Integration and next steps
The closing follows Refresco shareholder approval, the approval in principle of the UK competition authority (CMA) and the relevant competition authorities in both the US and Canada. The CMA's green light is conditional upon the sale of the Aseptic-PET facility at the Nelson site to a suitable buyer. Until that time Refresco and Cott will continue to operate separately in the UK.  Integration will start immediately in North America. In the UK, integration will commence once we have executed the proposed remedy.