The soft drink manufacturing industry in Europe is a dynamic sector rich with variety. Companies ranging from major global corporations to innovative startups produce a plethora of beverages; from sugary sodas to health-conscious options like sparkling waters and organic juices. Recent trends highlight shifts towards healthier choices and sustainable packaging, responding to consumer demand for natural ingredients and environmentally friendly practices. The rise of e-commerce has also changed distribution methods, allowing smaller brands to reach niche markets more effectively. As a result, this industry is not only competitive but also ripe for innovation and investment.


The investors in this list represent a mix of corporate giants, venture capitalists, and private equity firms, primarily based in Europe. With head offices in countries like the UK, France, and Luxembourg, these investors vary significantly in size, from firms with 10 employees to those with over 5,000. Established mainly between the mid-20th century and early 21st century, their collective investments in 2024 totaled over 350 deals. This highlights their ongoing interest in growing sectors, particularly in soft drink manufacturing, where they actively seek growth opportunities across diverse categories.


Top 15 Soft Drink Manufacturing Investors in Europe


1. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. Crowdcube has a strong focus on promoting diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions within the soft drink manufacturing sector, including L.A. Brewery, which raised $1,898,937 in equity crowdfunding in February 2021, and INTUNE Drinks, which raised $462,538 in September 2022. Additionally, Jukes Cordialities, another beverage-related company, raised $853,881 in product crowdfunding in November 2021. These transactions highlight Crowdcube's active role in supporting the soft drink industry, alongside its broader investment activities.


2. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. They aim to foster entrepreneurship and innovation by providing coaching and partnerships to help businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the soft drink manufacturing sector, including a significant investment in Le Petit Beret, a company specializing in non-alcoholic beverages, which raised 1.50 million euros in January 2021. Additionally, they participated in funding rounds for other companies like MyBrazil and Grain de Sail, further showcasing their engagement in the beverage industry.


3. Nestlé

  • Website: nestle.com
  • Type: Corporate
  • Headquarters: Vevey, Vaud, Switzerland
  • Founded year: 1866
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: nestle-s-a-

Nestlé S.A. is a multinational food and beverage company based in Vevey, Vaud, Switzerland, founded in 1866. With over 10,000 employees, Nestlé offers a diverse range of products, including coffee, dairy, and pet care items. The company has been actively expanding its beverage portfolio through strategic acquisitions. Notably, Nestlé acquired Henniez, a Swiss bottled water brand, in 2007, and more recently, it acquired Essentia Water, a leading alkaline water brand, in 2021, as part of its strategy to enhance its premium beverage offerings. Additionally, the acquisition of Princes Gate Spring Water in 2018 further solidified its position in the bottled water market. These transactions highlight Nestlé's commitment to the beverage sector, particularly in soft drinks and functional water products.


4. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm founded in 2005, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Among their notable transactions in the beverage sector, CVC acquired Lipton for $5.12 billion in November 2021, highlighting their commitment to the soft drink market. Additionally, their acquisition of Stock Spirits Group for £767 million in August 2021 further emphasizes their active role in the drinks industry, particularly in Eastern Europe. These investments reflect CVC's strategy to leverage established brands in the beverage sector for growth and value creation.


5. The HEINEKEN Company

  • Website: theheinekencompany.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1863
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: heineken

The HEINEKEN Company, founded in 1863 and based in Amsterdam, North Holland, Netherlands, is a leading brewery known for its high-quality beers, including the iconic Heineken® brand. As a corporate investor, HEINEKEN has been actively expanding its portfolio in the beverage sector, which now includes investments in non-alcoholic and ready-to-drink products. Notable transactions include the acquisition of Distell Group Limited for $2.5 billion, which enhances their beverage offerings, and a minority stake in Served® Hard Seltzer, a brand focused on hard seltzers and ready-to-drink cocktails. Additionally, HEINEKEN has participated in funding rounds for Double Dutch Drinks and Tenzing Natural Energy, further demonstrating their commitment to diversifying into the soft drink manufacturing space.


6. Crédit Mutuel Equity


Crédit Mutuel Equity is a private equity investment firm based in Paris, Île-De-France, France, founded in 1988. The firm specializes in providing capital and strategic support to businesses across various sectors, integrating economic and ESG considerations into their investment strategies. Notably, Crédit Mutuel Equity has been involved in several transactions within the soft drink manufacturing industry, including investments in Ogeu Groupe, which focuses on bottled water and soft drinks, and Montaner Pietrini Boissons Group, a company engaged in beverage production. Other relevant transactions include investments in Routin, known for its syrups and soft drink products, and Grain de Sail, which produces beverages. These investments highlight their commitment to supporting growth and transformation in the soft drink sector, alongside their broader investment portfolio.


7. Eurazeo

  • Website: eurazeo.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1969
  • Headcount: 201-500
  • Number of deals in 2024: 40
  • LinkedIn: eurazeo

Eurazeo is a prominent investment management firm based in Paris, specializing in private equity, private debt, and real assets. Founded in 1969, the firm has established a significant presence in the investment management landscape, particularly in Europe. Eurazeo Brands, the consumer packaged goods-focused arm of Eurazeo, has made notable investments in the soft drink sector, including a $40 million investment in Q Mixers, aimed at enhancing trade and consumer marketing efforts. Additionally, Eurazeo was part of an investor group that acquired Waterloo Sparkling Water, further emphasizing its commitment to the beverage industry. These transactions highlight Eurazeo's strategy of supporting growth and expansion in various sectors, including soft drinks, while maintaining a diversified investment portfolio.


8. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm founded in 2011, based in London, England. The firm focuses on providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market by making minority investments and offering extensive support services. Notably, BGF has invested in Boost Juice Bars UK, a company that operates in the beverage sector, providing them with funding to expand their store portfolio. Additionally, BGF has invested in Purity Brewing Co., which, while primarily a brewery, is involved in the production of beverages. These transactions highlight BGF's engagement in the soft drink manufacturing context, making them a relevant player in this industry.


9. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity firm founded in 1945, specializing in private equity and infrastructure investments. The firm focuses on providing capital and expertise to mid-market companies, helping them grow sustainably. With a strong international presence and a diverse portfolio, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i Group has been involved in significant transactions within the soft drink manufacturing sector, including the acquisition of Refresco, a Dutch drinks group, for €240 million in 2003. This investment marked their commitment to the soft drink industry and showcases their strategy of investing in companies that have growth potential. Additionally, they have engaged in various funding rounds for companies like Futaste and Mionetto S.p.A, further illustrating their active role in the beverage sector.


10. Associated British Foods plc


Associated British Foods plc is a diversified food, ingredients, and retail company based in London, England. Founded in 1935, ABF operates across various sectors, providing products such as sugar, baker's yeast, and clothing. The company serves both businesses and consumers, ensuring the availability of safe and affordable food and clothing globally. Notably, ABF has made significant acquisitions in the beverage sector, including the purchase of Ovaltine in 2002, which is known for its malted drink products. This acquisition highlights ABF's involvement in the beverage industry, complementing its broader food manufacturing operations. Additionally, ABF has acquired other companies like Twining and Company Limited and Jacksons of Piccadilly, further diversifying its portfolio, but Ovaltine remains the most relevant transaction in the context of soft drinks.


11. Ardian

  • Website: ardian.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 21
  • LinkedIn: ardian

Ardian is a prominent investment management firm based in Paris, specializing in private equity, real assets, and credit solutions. Founded in 1996, Ardian has built a global presence and focuses on sustainable finance, aiming to create lasting value for its clients. In recent years, Ardian has made significant investments in various sectors, including food and beverage. Notably, they acquired Florida Food Products, a company with an enterprise value exceeding $1 billion, reflecting their strategy to invest in mid-and large-cap companies in the U.S. market. Additionally, Ardian's acquisition of Frulact, a natural food ingredients supplier, for approximately €200 million highlights their interest in the food sector, which is closely related to soft drink manufacturing. These transactions illustrate Ardian's capability and interest in sectors that intersect with soft drink production, making them a noteworthy investor in this space.


12. Carlsberg Group

  • Website: carlsberggroup.com
  • Type: Corporate
  • Headquarters: Grimstad, Agder, Norway
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: carlsberg-group

Carlsberg Group, founded in 1847 and based in Grimstad, Agder, Norway, is a leading brewery known for its production of beer and a variety of beverages. The company has a strong global presence and emphasizes sustainability and quality in its brewing processes. In recent years, Carlsberg has expanded its footprint in the soft drink manufacturing industry through strategic acquisitions. Notably, in July 2024, Carlsberg acquired Britvic, a prominent British soft drink manufacturer, for £3.3 billion, creating a new entity called Carlsberg Britvic that enhances their non-alcoholic beverage offerings. Additionally, in December 2007, Carlsberg acquired a 70% stake in Lao Soft Drink Co Ltd, which holds a commanding 90% market share in Laos. These transactions reflect Carlsberg's commitment to diversifying its product range and strengthening its position in the soft drink market.


13. Kerry

  • Website: kerry.com
  • Type: Corporate
  • Headquarters: Naas, Kildare, Ireland
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: kerry

Kerry is a corporate investor based in Naas, Kildare, Ireland, founded in 1972. The Kerry Health and Nutrition Institute focuses on advancing science for healthier food and provides resources and research to support professionals in the food and beverage industry. Notably, Kerry has made several strategic acquisitions in the beverage sector, including Big Train, a company known for its beverage mixes, Oregon Chai, which specializes in chai tea products, and Island Oasis, a producer of frozen beverage mixes. These acquisitions highlight Kerry's commitment to expanding its footprint in the beverage market, particularly in areas that complement their focus on health and nutrition.


14. Azelis

  • Website: azelis.com
  • Type: Corporate
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 5
  • LinkedIn: azelis

Azelis is a corporate investor based in Antwerp, Flanders, Belgium, founded in 2001. As a specialty chemical distributor and innovation service provider, Azelis caters to over 63,000 customers across the life sciences and industrial sectors. They focus on delivering high-quality raw materials and innovative formulations tailored to specific market needs. In 2024, Azelis announced several significant acquisitions aimed at strengthening their position in the food and nutrition market, including the acquisition of Hortimex, a Polish specialty chemicals distributor, and Gillco Ingredients, a US-based specialty ingredient provider. These transactions highlight Azelis's commitment to expanding its portfolio in sectors that are relevant to soft drink manufacturing, as they provide essential ingredients and formulations that could be utilized in the production of soft drinks.


15. IDIA Capital Investissement


IDIA Capital Investissement is a private equity investment management firm based in Montrouge, Île-De-France, France, founded in 1980. The firm specializes in supporting small and medium-sized enterprises (SMEs) and mid-sized companies (ETIs) in their growth, offering investment management services and strategic guidance. IDIA focuses on sectors such as agro-food, energy transition, and viticulture. Notably, they have invested in Montaner Pietrini Boissons, a significant player in the beverage distribution market, which highlights their involvement in the beverage sector. Additionally, they have participated in various funding rounds for companies like Polenghi Group and Malteurop, although these are less directly related to soft drinks. Their investment in Montaner Pietrini Boissons underscores their capability and interest in the beverage industry, making them a relevant investor in the soft drink manufacturing context.



Soft Drink Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
NestléVevey, Vaud, Switzerland10001+18662
CvcLuxembourg1001-5000200516
The HEINEKEN CompanyAmsterdam, North Holland, Netherlands10001+18634
Crédit Mutuel EquityParis, Île-De-France, France51-20019882
EurazeoParis, Île-De-France, France201-500196940
BgfLondon, England, United Kingdom (UK)51-200201153
3i Group plcLondon, England, United Kingdom (UK)201-50019453
Associated British Foods plcLondon, England, United Kingdom (UK)10001+19351
ArdianParis, Île-De-France, France1001-5000199621
Carlsberg GroupGrimstad, Agder, Norway10001+18472
KerryNaas, Kildare, Ireland10001+19721
AzelisAntwerp, Flanders, Belgium1001-500020015
IDIA Capital InvestissementMontrouge, Île-De-France, France11-5019801


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