Netherlands-Based Refresco Studies IPO at Valuation Above $10 Billion
Netherlands-based Refresco and its owner KKR have taken pitches from investment banks in recent weeks for roles on a potential initial public offering, according to people familiar with the matter. Refresco is one of the world's largest independent beverage manufacturers.
The company is studying a listing in the United States or Europe that could value it at more than $10 billion, the people said, cautioning that plans are preliminary and could change. KKR acquired Refresco in 2022 for roughly $8 billion through its global infrastructure strategy. Refresco and KKR declined to comment.
Founded in 1999 and headquartered in Rotterdam, Refresco makes private-label drinks for retailers such as Walmart and Aldi and provides manufacturing, bottling, warehousing, logistics and distribution for brands including Coca-Cola, PepsiCo and Monster, across 85 production facilities in North America, Europe and Australia.
The company generated close to $7 billion of revenue and around $930 million of adjusted EBITDA in 2025, according to its annual report.
Published by GSM · USA (original Chinese edition)
Photo: 饮料灌装生产线。照片：DimiTalen，CC0，来源：Wikimedia Commons（Francis Ford Coppola Winery bottling plant, near Geyserville, 2011.jpg）
