REFRESCO GROUP Rotterdam, the Netherlands - 3 January 2018 Further to the announcement on July 25, 2017 regarding Refresco's acquisition of Cott's bottling activities, Refresco (Euronext Amsterdam: RFRG) today provides a progress update on the UK Competition and Markets Authority ("CMA") process.
Refresco has been informed by the CMA that the acquisition of Cott's bottling activities raises potential competition concerns in the United Kingdom for one specific category, juice drinks in PET using a special aseptic production process that allows them to be sold preservative-free and without refrigeration. In the UK, the combined company produces these products in only two factories, Bridgwater (Refresco) and Nelson (Cott). Refresco is currently examining the details of the decision. Refresco is willing to offer suitable remedies and will fully cooperate with the CMA to address the concerns raised.
CEO Refresco, Hans Roelofs: "The initial investigation of the CMA did not find any competition concerns for most of our products. However, they have raised concerns for one specific product category produced by Refresco and Cott.
With the clearance we received earlier in the process from the U.S. and Canadian regulatory authorities and the overwhelming support from our shareholders, we are willing to propose remedies to the CMA to address this specific issue and put us on the right track to also obtain clearance in the UK. We continue to cooperate with the CMA in order to progress the acquisition and work towards a successful completion."
A further update will be provided at the appropriate moment.
For more information, please contact:
Analysts and investors:
Gerard van Buttingha Wichers
+31 10 440 5164
gerard.vanbuttinghawichers@refresco.com
Press:
Minna Lyijynen
+31 10 440 5165
minna.lyijynen@refresco.com
About Refresco
Refresco (Euronext: RFRG) is the leading independent bottler of soft drinks and fruit juices for retailers and A-brands with production in the Benelux, Finland, France, Germany, Italy, Poland, Spain, the UK and the US. The Company realised in 2016 full year volumes and revenue of circa 6.5 billion litres and circa €2.1 billion, respectively. Refresco offers an extensive range of product and packaging combinations from 100% fruit juices to carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass. Focused on innovation, Refresco continuously searches for new and alternative ways to improve the quality of its products and packaging combinations in line with consumer and customer demand, environmental responsibilities and market demand. Refresco is headquartered in Rotterdam, the Netherlands and has about 5,500 employees. www.refresco.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Refresco via Globenewswire
