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.
