In 2022, we took several steps forward in our Buy & Build strategy, including the addition of a third geographical platform for growth by entering the Australian market. Our ability to significantly increase volume and drive profitable growth in challenging market circumstances underscores the resilience of our business model.
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These key figures give you an overview of the most important results of the Refresco Group
"In 2022, we continued to serve our customers with the highest quality and service level possible in a challenging economic environment"
Dear stakeholder,
2022 was an important year for Refresco as we took several steps forward in our Buy & Build strategy. We did our third-largest acquisition thus far, in Germany. And we added a third geographical platform for growth, complementing our footprint in Europe and North America by entering the Australian market. Another significant milestone this year was KKR acquiring a majority stake in Refresco in July. Meanwhile, throughout the year, our resilience and agility were called upon, as we continued to serve our customers with the highest quality and service level possible in a challenging economic environment.
Year 2022 in brief
We were faced with unprecedented market circumstances this year, with shortages in many areas and disruptions in many supply chains and in all regions. Combined with the highest inflation rates in decades, this resulted in strong cost price increases, which we largely passed onto our customers. Thanks to the professionalism and agility of our staff, we were largely able to continue to deliver on our promises despite the volatile environment.
In July, Bill McFarland was appointed as Chief Financial Officer and Member of the Executive Board, succeeding Adee Packer. Bill joined Refresco when we acquired Cott Beverages and has over 20 years of experience in the FMCG industry, and his expertise is of great value as we proceed with our ambitious growth plans. In October, Martha Zandbergen was appointed in the new role of Chief People and Legal Officer, spearheading the People agenda as a member of the Executive Committee.
We continued to execute on our Buy & Build strategy in 2022 by acquiring and integrating assets to further strengthen our business. In February, we completed the acquisition of Hansa-Heemann, a German mineral water and CSD producer, adding five sites to our network. In January and April, we completed the acquisition of two production locations from The Coca-Cola Company in the US. In December, we added three facilities in Australia with the acquisition of Tru Blu Beverages and acquired Avandis in the Netherlands.
Future outlook
KKR acquired a majority stake in Refresco in July. With their full support of our strategy, we are well positioned to accelerate our growth in the next years. Existing shareholders PAI and BCI mai