Cott Buys Bottler
Reuters reports that Cott Corp. acquired private U.S. bottler Premium Beverage Packers Inc. with bottling facilities in Wyomissing, Penn. Although Premium’s operations will immediately add approximately $45 million in annual sales, Cott does not anticipate that the acquisition will have a material impact on this year’s earnings, says the world’s largest supplier of store-brand soft drinks.
“This acquisition adds strength to Cott’s growing presence in the northeast (of the United States),” says Frank E. Weise, chairman, president and chief executive of Cott. “Premium, which has a long-standing relationship with Cott as a key co-packer, is ideally located to service one of the most densely populated areas in the country.”
Although terms of the deal were not disclosed, Cott says it has acquired all of the outstanding capital stock of Premium, whose assets include working capital and equipment, manufacturing contracts and certain trademarks.
Moderator Comment: Is there a grand plan behind Cott’s
recent acquisitions?
Frank Weise and company have been busy on the acquisition
front. We wonder what Cott’s next move will be? [George
Anderson – Moderator]