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FrieslandCampina agrees to sell Riedel to Standard Investment

By Jenny Eagle+

18-Aug-2017
Last updated on 18-Aug-2017 at 11:15 GMT2017-08-18T11:15:52Z

Riedel owns beverage brand CoolBest.
Riedel owns beverage brand CoolBest.

FrieslandCampina has agreed to sell Riedel to Dutch investment company Standard Investment, with the deal to be completed before the end of the year.

Earlier this year, FrieslandCampina announced it would sell Riedel, because the company wants to concentrate on its dairy portfolio. Riedel’s portfolio includes Appelsientje, CoolBest, DubbelFrisss, DubbelDrank, Taksi and Extran.

Next phase

 

The transaction is dependent on a number of conditions, including the approval from the Authority for Consumers & Markets and the completion of the works council consultation.

The financial details have not been published.

We were looking for a buyer to take Riedel to the next phase," said Roel van Neerbos, member of the Executive Board, Royal FrieslandCampina.

"With its broad knowledge and experience, Standard Investment came out best. I am convinced the new owners will make optimum use of the market opportunities of Riedel as an independent company,”

Standard Investment which already has an interest in Burger King Netherlands and Dutch Bakery, the take-over means expanding its portfolio.

Guido Grobbink, partner, Standard Investment, said it was interested in the take-over because Riedel has developed itself to become a market leader in ambient and chilled juices and fruit drinks in the Netherlands since the 1970s.

Indispensable drink brands

Consumers give Appelsientje, CoolBest, DubbelFrisss and DubbelDrank places in the top 10 of indispensable drink brands,” he said.

However, we drink as a whole about 25% less fruit juices than we did 10 years ago and this has had an impact on Riedel.”

Grobbink added he sees a lot of opportunities for the company including putting an emphasis again on the quality of fresh and other fruit juices and the importance of a well-balanced lifestyle.

This is quite a challenge, but we have a lot of confidence in the employees and the management. I am looking forward to expanding the entrepreneurship in Riedel and to give the wonderful brands of this company the attention they deserve,” he added.

According to Roelof Joosten, CEO, Royal FrieslandCampina, the company is focusing on its dairy portfolio following the update of our its strategy route2020.

FrieslandCampina wants to ensure Riedel is best positioned to anticipate and respond to changing customer requirements and consumers habits. Therefore we believe it is important for Riedel to take the next step in its development,” he said.

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