(Reuters) – Refresco Gerber, a European bottler of drinks and juices, said on Tuesday it would seek a stock market listing in Amsterdam with an initial public offering of shares.
The Rotterdam-based company, which bottles Innocent Smoothies, Del Monte fruit juices and drinks for supermarket in-house brands, said it would use proceeds to pay down debt.
The company reported net profit of 38.7 million euros ($43.3 million) for 2014, compared with a net loss of 28.9 million in 2013. Sales rose 26 percent to 2.0 billion euros.
It ended the year with equity of 361 million euros, and loans and borrowings of 684 million.
Refresco Gerber was created through a merger with British soft drink company Gerber Emig in 2013, and former Gerber owners hold a 27.5 percent stake in the merged entity.
The rest is held by private equity firm 3i, with a 15 percent stake, a group of the company’s managers, with 10 percent, and the balance in the hands of an Icelandic consortium including Kaupthing Bank, FL Group and Vifilfell Bottling Group.
Spokeswoman Claire Verhagen declined to say how much the firm hoped to raise in the IPO or what percentage of stock would be sold. She said the listing was expected in 6-8 weeks.
JP Morgan and Credit Suisse will coordinate the offering, with ABN Amro and HSBC acting as bookrunners.