Cott Announces U.K. Reporting Segment's Planned Acquisition of Calypso Soft Drinks
TORONTO and TAMPA, FL -- (Marketwired) -- 04/30/13 -- Cott Corporation (COT) (TSX: BCB) today announced that its United Kingdom / Europe ("U.K.") reporting segment signed an agreement to acquire Cooke Bros Holdings Limited, which includes the subsidiary companies Calypso Soft Drinks Limited and Mr. Freeze (Europe) Limited (together, "Calypso Soft Drinks"). Calypso Soft Drinks is a privately owned soft drink and freezable business based in Wrexham, United Kingdom.
Steve Corby, Director of the U.K. reporting segment, commented: "The Calypso Soft Drinks acquisition falls within the diversification strategy of the U.K. reporting segment as it brings new soft drink packaging formats such as single serve Combi cartons, single serve cups and cuplets and two freezable formats into the Cott portfolio. Calypso Soft Drinks has been highly successful in providing its customers with quality and innovation. We look forward to building on the solid foundation already established."
Calypso Soft Drinks, with revenues of approximately USD$50 million, has a strong presence in the Foodservice channel (which includes schools) with an extensive range of branded children's soft drinks that use its own source of natural mineral water and contain no artificial colors or flavors. Additionally, Calypso Soft Drinks is the United Kingdom's market leader in freezables with its Jubbly, Mr. Freeze and other various licensed trademark offerings.
Peter Cooke, CEO of Calypso Soft Drinks, said: "We firmly believe that bringing Calypso Soft Drinks into the Cott family will provide additional opportunities for the benefit of our employees and customers alike."
Completion of the transaction is subject to customary conditions, including clearance from the United Kingdom's Office of Fair Trading and is anticipated to close in June 2013.
About Cott Corporation
Cott is one of the world's largest producers of beverages on behalf of retailers, brand owners and distributors. Cott produces multiple types of beverages in a variety of packaging formats and sizes, including carbonated soft drinks, 100% shelf stable juice and juice-based products, clear, still and sparkling flavored waters, energy products, sports products, new age beverages, and ready-to-drink teas, as well as alcoholic beverages for brand owners. Cott's large manufacturing footprint, substantial research and development capability and high-level of quality and customer service enables Cott to offer its customers a strong value-added proposition of low cost, high quality products. With approximately 4,000 employees, Cott operates manufacturing facilities in the United States, Canada, the United Kingdom and Mexico. Cott also develops and manufactures beverage concentrates, which it exports to over 50 countries around the world.
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Source: Cott Corporation