Refresco, the German beverage bottling company, has agreed to acquire the business operations of insolvent German mineral water and soft drinks producer Rhenser Mineralbrunnen.
The agreement was reached following negotiations with Rhenser Mineralbrunnen’s provisional insolvency administrator, Alexander Jüchser, and managing director, Holger Sieck. A creditors’ committee has approved the transaction, which is scheduled to become effective on the 1st August. While financial details of the deal have not been disclosed, the transaction covers brand rights, land, production facilities and inventory at the Rhens site. The majority of Rhenser Mineralbrunnen’s employees will also transfer to Refresco as part of the transition.
According to Refresco, the acquisition will ensure the preservation and continuation of the traditional company. Guido Kühne, managing director of Refresco Deutschland, commented: “With the planned integration of Rhenser Mineralbrunnen, we strengthen systematically our brand portfolio and our production capacities in the field of mineral water in glass. We look forward to being able to continue and expand the business”.
Source: Just Drinks / KPB InsO
