Refresco reports Q4 & FY 2017 results and starts integration of Cott's bottling activities - Seite 2

"2017 was for Refresco strategically very good year and financially challenging. We signed a transformational deal to acquire Cott's bottling activities, creating the world's largest independent bottler with leadership positions across Europe and North America. As a result we will grow considerably, gain 4,000 new colleagues, 29 manufacturing sites and fulfil our ambition to operate a market leading bottling platform across two continents. It is a huge step forward, right at the heart of our buy & build strategy.

A weak summer in almost all markets and continued pressure on retailer brands had an adverse effect on volumes and results. Our results were also influenced by higher than expected costs linked to the start-up of several new Aseptic PET lines across the business. This technology is critical to our future because it enables us to meet changing consumer preferences for more innovative recipes and packaging formats.

The launch of the recommended cash offer of all Refresco shares by PAI and bcIMC is a further exciting development for our company. With their track record, financial strength and understanding of our business and the beverages industry, the consortium can support Refresco's strategy going forward. We are convinced that this is a good transaction for the company and its stakeholders.

Finally, integration of Refresco and Cott's bottling activities has begun in 2018 and we are pleased to welcome Brad Goist, COO North America as a new Executive Board member, subject to shareholder approval at the upcoming AGM."

Please open the link below for the press release.

Refresco reports Q4 and FY 2017 results

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Source: Refresco via Globenewswire