Juice bottler Refresco in talks with French investor

Refresco, Europe's largest juice and soft-drink bottler, said Wednesday it has launched negotiations with Paris-based investor PAI partners after receiving a 1.6 billion euro ($1.9 billion) takeover bid.

The Rotterdam-based company had "carefully reviewed" an offer which was "an unsolicited, indicative and conditional proposal from PAI," Refresco said in a statement.

Since the offer was made on October 3 contacts have "taken place with PAI on a number of topics, including the financial and non-financial conditions," and Refresco "has now entered into negotiations with PAI."

The Dutch independent bottler, which works with brands such as Innocent and Del Monte, had fended off an initial offer from the private equity firm in April worth 1.4 bn euros.

The company bottles soft drinks and fruit juices for retailers across mainland Europe, Britain and the United States.

It employs some 5,500 people and last year bottled some 6.5 billion litres of soft drinks and juice, earning a net profit of 81.5 million euros.

Source: AFP