Refresco B.V. agreed to acquire Avandis C.V. from Lucas Bols N.V. and Koninklijke De Kuyper B.V. for approximately Ç25 million.

Refresco B.V. agreed to acquire Avandis C.V. from Lucas Bols N.V. (ENXTAM:BOLS) and Koninklijke De Kuyper B.V. for approximately Ç25 million on October 11, 2022. The purchase price for 100% of the shares in Avandis amounts to Ç25 million which will be adjusted for AvandisÆ net debt position, which stood at Ç15 million on March 31, 2022, and any working capital adjustments, both as at the completion date. The transaction includes a long-term contract manufacturing agreement with both Lucas Bols and De Kuyper, allowing Refresco to invest and expand the business.

This transaction is subject to regulatory approval and the consultation process with the respective Works Councils, which is expected to be completed by the end of 2022.