Refreshment focuses on the water dispenser/cooler, office coffee service and vending sectors, while also taking an in-depth look into products for vending from bottled water and drinks, to snacks and confectionery. It also focuses on hydration, health and wellness, new technologies and environmental and social responsibility issues.
Research
Coffee & tea

Mergers & Acquisitions
Centurium in talks to acquire Nestlé’s Blue Bottle Coffee
Bloomberg has reported that Centurium Capital Partners is in advanced talks to acquire Nestlé’s Blue Bottle Coffee, citing people familiar with the matter.
Royal Cup to acquire Farmer Brothers in all-cash deal
Royal Cup Coffee and Tea has agreed to acquire US coffee roaster and distributor Farmer Brothers Coffee in an all-cash transaction that will combine two long-standing players in the US coffee and tea market.
Keurig Dr Pepper updates financing plan for JDE Peet’s acquisition
Keurig Dr Pepper has announced updated financing plans and transaction timelines for its acquisition of JDE Peet’s and its separation into two independent companies.
Five Star Breaktime Solutions acquires AM Coffee Services
Five Star Breaktime Solutions has acquired refreshment services operator AM Coffee Services, expanding its coffee service operations in Shreveport, Louisiana, and supporting regional growth.
Refresco to acquire SunOpta in $6.50 per share deal
Refresco, the global independent beverage solutions provider, has entered into a definitive agreement to acquire SunOpta in an all-cash transaction valued at $6.50 per share.
Coca-Cola to retain full ownership of Costa Coffee
Coca-Cola has confirmed it will retain full ownership of Costa Coffee, following months of speculation over a potential divestment of the UK-based café chain.
Five Star acquires Krodel Vending Operations in Southern Indiana
Five Star Breaktime Solutions has completed the acquisition of the vending and coffee operations of Krodel Vending, headquartered in Jasper, Indiana.
AG Barr buys Fentimans and Frobishers for £50m as it doubles down on premium soft drinks
AG Barr has agreed to acquire premium mixer brand Fentimans and juice producer Frobishers in deals worth more than £50 million.
Five Star acquires US vending operator Jordan Distributing
Five Star Breaktime Solutions has acquired a Chattanooga, Tennessee-based vending and micro market business, Jordan Distributing, expanding its footprint across Southeast Tennessee and North Georgia.
Nestlé presses ahead with bottled water carve-out as private equity circles €5bn business
The Swiss giant has invited first-round bids for the water unit, valued at around €5 billion, according to sources, with Rothschild advising on the transaction.
KDP’s $18bn JDE Peet’s bid signals new phase of consolidation in global coffee
Keurig Dr Pepper’s $18 billion bid for JDE Peet’s signals rapid coffee consolidation as record bean prices and supply shocks squeeze margins.
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