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3i-backed Refresco Gerber eyes €1.5bn IPO

9 Jun 2014

towerPrivate equity-backed soft drinks maker and bottler Refresco Gerber is reportedly preparing for an IPO in London.

Refresco, which is backed by UK private equity firm 3i, is in talks with banks with plans to hire an adviser by the end of the summer, said the Financial Times, citing four people with knowledge of the matter.

An IPO is the preferred exit option for the business, which could be floated by the end of the year, said the sources.
Refresco could be valued at as much as €1.5bn including debt.

3i bought a 20 per cent interest in the business for €84m in 2010, four years after exiting the company following a three year holding period.

The UK firm backed the company’s €240m management buyout and then sold it to an Icelandic consortium in a deal that valued it at €463m including debt.

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