Refresco has completed the acquisition of Cott’s beverage manufacturing business for $1.25bn.

With the acquisition, Refresco has doubled its production capacities by approximately 12 billion litres annually.

The deal was completed after Refresco obtained approvals from competition authorities in the US and Canada.

The UK’s competition and market authority (CMA) has also given a conditional approval, which will be effective upon the sale of Refresco’s aseptic polyethylene terephthalate (PET) facility at the Nelson site to a suitable buyer. Until then, Refresco and Cott will continue to operate separately in the country.

“The joined business will be well positioned to meet customers’ continuously changing needs and requirements.”

Integration will start immediately in the North American region.

Refresco CEO Hans Roelofs said: “Today’s completion signals an important moment reinforcing our position as the leading industry player. Combining the two businesses is in the heart of our buy and build strategy.

“The joined business will be well positioned to meet customers’ continuously changing needs and requirements and offers ample opportunity for employees to develop their careers in an increasingly international setting.

“The company has a well-balanced portfolio with exposure to all categories for retailers and a strengthened contract manufacturing exposure with a unique geographical spread for branded beverage companies.”

With the merger, Refresco’s operations have also increased to include 22 manufacturing sites in the US, four in Canada and one in Mexico. Refresco will also operate 26 sites in continental Europe and six in the UK.