Cott Announces Closing of the Sale of Its Traditional Beverage Manufacturing Business to Refresco in All-Cash Transaction
Jan 30, 2018
“I would like to take this opportunity to thank all of the management and team members of Cott Beverages who have worked so hard to manage the business over the years and bring this transaction to fruition,” said
The transaction is expected to:
- Improve top-line growth and stability
- Enhance overall gross profit and EBITDA margins
- Reduce net leverage
- Decrease customer concentration
- Reduce commodity exposure
- Shift Cott’s core focus to route-based services in the growing categories of water, coffee, tea, extracts and filtration
The sale proceeds are being used to redeem the remaining
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Cott is a route-based service company with a leading volume-based national presence in the
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 conveying management’s expectations as to the future based on plans, estimates and projections at the time Cott makes the statements. Forward-looking statements involve inherent risks and uncertainties and Cott cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include, but are not limited to, statements related to the potential impact the transaction will have on Cott and related matters. The forward-looking statements are based on assumptions regarding management’s current plans and estimates. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate.
Factors that could cause actual results to differ materially from those described in this press release include, among others: risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; the risk that disruptions from the transaction will harm Cott’s business; and the effect of economic, competitive, legal, governmental and technological factors on Cott’s business.
The foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors contained in Cott’s Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as other filings with the securities commissions. Cott does not undertake to update or revise any of these statements in light of new information or future events, except as expressly required by applicable law.
Website: www.cott.com
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