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
Coca-Cola mulls Costa Coffee sale amid shift to healthier innovations
The Coca-Cola Company is reportedly exploring the sale of Costa Coffee, the British coffee chain it acquired in 2018 for over $5 billion.
Keurig Dr Pepper to acquire JDE Peet’s for €15.7bn, plans spin-off into two public companies
Keurig Dr Pepper (KDP) has entered an agreement to acquire JDE Peet’s in an all-cash transaction valued at approximately €15.7 billion.
Finsbury Food Group expands portfolio with acquisition of Lola’s Cupcakes
Finsbury Food Group has acquired a 70% stake in Lola’s Cupcakes, a UK-based player in the premium cupcake and celebration cake sector.
European Commission approves Prosus’ €4.1bn Just Eat takeover
The European Commission has cleared Prosus’ €4.1 billion acquisition of Just Eat Takeaway, a deal set to establish the world’s fourth largest food delivery group.
Thermoplan acquires coffee roasting start-up Mikafi
Swiss coffee equipment manufacturer Thermoplan has acquired Mikafi, a start-up developing compact tabletop coffee roasters for on-site use in cafés.
Generous Brands completes Health-Ade acquisition
Generous Brands, a player in the premium refrigerated beverage sector and a portfolio company of Butterfly Equity, has completed its acquisition of kombucha brand Health-Ade.
Philz Coffee set to be acquired by private equity firm Freeman Spogli
Philz Coffee has signed an agreement to be acquired by private equity firm Freeman Spogli.
Ty Nant strengthens portfolio with acquisition of Strathmore Water from AG Barr
Ty Nant, a player in the premium bottled water sector, has acquired Strathmore Water from AG Barr, marking a significant strategic move for both brands.
Farmer Brothers weighs strategic alternatives to maximise shareholder value
Farmer Brothers Coffee has begun evaluating strategic alternatives aimed at maximising shareholder value.
Keurig Dr Pepper acquires drink mix maker Dyla
Keurig Dr Pepper (KDP) has acquired full ownership of Dyla Brands, a player in the powdered drink mix and liquid water enhancer market.
Ferrero reportedly nears £3bn acquisition of WK Kellogg
Ferrero is reportedly close to finalising a deal to acquire WK Kellogg, a source has told Reuters.
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