On March 3, 2015, Refresco Gerber, one of Europe’s largest soft drink and fruit juice bottlers, announced a plan to debut its initial public offering on the Amsterdam-based Euronext exchange.
Based in Rotterdam, the Netherlands, Refresco Gerber serves retailers and branded customers through production in countries such as the UK, Germany, Italy, France, and Poland. The company merged with Gerber Enig in 2013, in a transaction that significantly strengthened the company’s position in Europe and transformed it into the largest pan-European independent bottler.
On March 17, 2015 Refresco Gerber announced that the IPO could value the company at as much as $1.36 billion, or 1.29 billion euros. The initial stock valuation was expected to range between €13 to €16 per share, which would result in a €1.29 billion valuation at the maximum end of the range.
The stock finally debuted on March 27, 2015 on the higher end of the estimated range, with a price of €14.50 ($15.75) per share, resulting in a €1.18 billion valuation. The company has successfully raised €100 million through its offering of 6.9 million new shares via the IPO, which was its target amount. The additional capital will be used to pay off the company’s floating rate notes and will provide additional flexibility to finance new ventures. Another 30.9 million pre-existing shares were also placed on the exchange.
Chief Executive Hans Roelofs promises “ambitious plans” in the future, with potential for more acquisitive growth and expansion beyond Europe.