Refresco reportedly explores IPO at valuation above $10 billion

Refresco, KKR & Co.'s portfolio company, is reportedly exploring an initial public offering that could value it at more than $10 billion.

Sources say the Netherlands-based company and KKR recently heard pitches from investment banks to manage a potential listing. The IPO could take place in the United States or Europe.

The plans remain preliminary and could change. KKR acquired Refresco in 2022 for approximately $8 billion through its global infrastructure fund.

Refresco is the world's largest independent beverage manufacturer. It provides bottling and manufacturing services for major retailers and beverage brands, including Coca-Cola, PepsiCo and Walmart.