Refesco, a Dutch beverage solutions provider, agreed to acquire Frías Nutrición, a Spanish private-label plant-based milk manufacturer, from Alantra Private Equity and the Frías founding family. The acquisition is expected to be finalized by the end of 2024.

Frías Nutrición is a Spanish company that specializes in the production of plant-based food and beverages. It supplies milk alternatives made from oats, soy, almonds, rice, hazelnuts, and coconut to retailers in Spain and other European countries.

Refresco expects the acquisition to help strengthen its position in the plant-based drinks market, including expanding offerings to retailers and private labels across Europe and advancing product innovation.