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
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.
Coca-Cola abandons Costa Coffee sale - Financial Times
According to reports, Coca-Cola has halted its plans to sell Costa Coffee, the UK-based coffee chain that it acquired for $5.1 billion back in 2018.
Cizzle Brands acquires Flow Water in $60.63m deal
Cizzle Brands has acquired 100% of Flow Water from RI Flow Sub in a transaction valued at approximately CAD 83.75 million (approx. $60.63 million), subject to customary post-closing adjustments.
Unilever to sell Indonesian tea business for $89m
Unilever Indonesia has agreed to divest its tea business in Indonesia, including the SariWangi brand, to Savoria Kreasi Rasa, a subsidiary of Djarum Group.
Fiddleheads Coffee joins FairWave as it plans long-term future
Fiddleheads Coffee has joined the FairWave Specialty Coffee Collective as it looks to secure its long-term future while maintaining its local roots.
Five Star Breaktime Solutions Acquires Savannah Healthy Vending
Five Star Breaktime Solutions has completed the acquisition of Savannah Healthy Vending, expanding its operations and customer base in Georgia, US.
Coca-Cola’s proposed Costa Coffee sale faces uncertainty as talks with TDR Capital falter – FT
Coca-Cola’s plans to sell Costa Coffee are at risk of being abandoned, according to the Financial Times, as negotiations with private equity firm TDR Capital encounter difficulties over valuation.
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