The Netherlands based bottler Refresco Group has received its shareholders approval to acquire Cott’s bottling activities.
In July, the company announced the acquisition from Cott, a diversified beverage company, for nearly $1.25bn.
The transaction, which is subject to remaining closing conditions including regulatory approvals, is expected to be completed in the final quarter of this year.
Refresco CEO Hans Roelofs said: “The bottling activities of Cott are a perfect strategic fit to our current activities.
“With this acquisition, we create nationwide coverage in the US, the largest single soft drinks market globally, while adding significant capacity and extending our broad product portfolio in the UK.
“It reinforces our position as leading independent bottler for retailers and A-brands, creating a company with combined production volumes of approximately 12 billion litres across 59 production sites.”
Following the completion, the combination is expected to create an independent bottler with positions across Europe and North America.
Cott’s bottling activities include a complete portfolio of non-alcoholic beverages focusing on retailing brands and contract manufacturing.
Last year, the company reported revenues of nearly $1.7bn, adjusted EBITDA of $136.5m and customer relationships with more than 500 retailers.
Refresco Group estimates that the acquisition has significant synergy potentiality and will help to realise nearly €47m within three years from closing.