Cott Announces the Sale of its Soft Drink Concentrate Production Business and RCI International Division to Refresco in an All-Cash Transaction

Cott Announces the Sale of its Soft Drink Concentrate Production Business and RCI International Division to Refresco in an All-Cash Transaction

Cott Corporation (NYSE:COT; TSX:BCB) today announced the sale of its soft drink concentrate production business and its RCI International division ("Cott Beverages LLC") to Refresco for USD $50 million, who in turn sold the RCI worldwide branded activities to RC Global Beverages Inc.

Cott Beverages LLC is a leading developer and manufacturer of soft drink concentrates for bottlers in more than 70 countries. Cott Beverages LLC generated approximately $80 million in sales during 2018 including concentrate production directly supporting Refresco’s beverage manufacturing business.

"This transaction is the final step in the transformation of our business where selling the remaining business unit of the traditional carbonated soft drinks business is consistent with our strategy of accelerating the growth across our platform in water, coffee, tea, extracts and filtration solutions," commented Tom Harrington, Cott’s Chief Executive Officer. "We want to thank all the associates of Cott Beverages LLC for their contributions and wish them well as they rejoin their former traditional bottling business colleagues and become a part of Refresco," continued Mr. Harrington.

Hans Roelofs, CEO Refresco: "We are pleased to add Cott’s Columbus concentrate manufacturing facility to Refresco North America. It adds extensive innovation capabilities and skills and creates a global center of excellence for beverage concentrate manufacturing. It is a perfect fit with our business. We have decided to divest the RCI International branded activities and find an owner who can bring similar focus and continuity to this iconic brand. With RC Global Beverages Inc., we believe we have found an excellent match. The sale of Columbus from Cott to Refresco and the sale of the RCI International activities from Refresco to RC Global Beverages Inc. took place simultaneously."

Source of information

Cott & Profibusiness.world

Date

February 11, 2019

Page generated in 2.2928 seconds.
Redakční systém teal.cz naprogramoval Vítězslav Dostál