Refresco, an independent bottler of beverages for retailers and manufacturers in Europe and the US, has announced the acquisition of Cott Beverages in an all-cash transaction worth $1.25 billion.
Cott Beverages, which generates $1.7 billion in annual revenues, is described as drinks firm Cott’s “traditional beverage manufacturing business”.
It is one of the world’s largest producers of non-alcoholic beverages with a portfolio including carbonated soft drinks, shelf stable juice and juice-based products, energy drinks, clear, still and sparkling flavoured waters, sports drinks, ready-to-drink teas, freezables and ready-to-drink alcoholic beverages.
Announcing the acquisition in a statement, Refresco said the move would create the largest independent bottler for retailers and A-brands in Europe and North America with a combined production volume of approximately 12 billion litres.
Cott CEO Jerry Fowden commented: “After a thorough strategic review in 2013, we developed an accelerated diversification and acquisition strategy in order to transform our company and create a business weighted towards better for you products in categories with topline growth, a more diverse channel and customer base, higher margins, and strong free cash flow generation. This transaction is very much in line with this strategy […]”.
Source: Refresco / Cott
