Refresco Gerber, a European-based soft drinks and fruit juices bottler for retailers and leading brand owners, has signed an agreement to purchase 100% shares in DIS, a Dutch beverage manufacturer.

The purchase price is €72m, which also includes the debt assumption.

With DIS acquisition, Refresco Gerber intends to strengthen its position in co-packing, and tap new opportunities to further optimise the manufacturing footprint and supply chain in the Benelux.

Refresco Gerber CEO Hans Roelofs said: "With DIS we take a next step in the execution of our buy & build strategy and enhance our co-packing position in the Netherlands. We also broaden our proposition and capabilities in the filling of cans.

"DIS’ international co-packing concept has been very successful over the years and will be continued and broadened in the Refresco Gerber setting."

The new deal is financed from the available cash and credit facilities, and is subject to the approval of the competition authorities. The transaction is expected to close in the quarter of 2016.

DIS CEO Marco Geurten said: "We are excited to join forces with the Refresco Gerber Group. Together we will be in a better position to support our customers’ international growth.

"Refresco Gerber’s European platform offers a great opportunity to further develop DIS’ co-packing business across Western Europe.

"I am looking forward to working with our customers, employees and the Refresco Gerber team to take our company to the next level."

Set up in 1964, DIS focuses on filling with diverse non-alcoholic beverages such as carbonated soft drinks and energy drinks in a wide range of cans. It also fills beer in cans for regional and international brewers.

The Dutch company has manufacturing facility in Sittard, the Netherlands with a workforce of 198 people. DIS has a production capacity of 300 million liters annually that includes 78% soft drinks and 22% beer.

The company offers co-packing services for its international brands that account for 95% of the volume and remaining 5% accounts for private label business with European retailers. It has an annual turnover of €90m.