TORONTO and TAMPA, FL, Sept. 5, 2017 /CNW/ - Cott Corporation (NYSE:COT; TSX:BCB) today announced that the shareholders of Refresco Group N.V. (Euronext: RFRG) have approved the previously announced acquisition of Cott's traditional beverage manufacturing business ("Cott Beverages") for USD $1.25 billion in cash. The transaction includes Cott's North America, U.K., and Mexico traditional businesses (excluding the RCI International division and its associated concentrate facility as well as the Aimia Foods division).
"We are pleased with the Refresco shareholders' vote in favor of the transaction," commented Jerry Fowden, Cott's Chief Executive Officer. "This vote brings us one step closer to completing the sale of our traditional business, and I am excited about the growth opportunities that lie ahead for our water, coffee, tea and filtration services businesses," continued Mr. Fowden.
The acquisition is expected to close by the end of 2017, subject to the satisfaction of the remaining closing conditions, including regulatory approvals.
"NEW COTT" MODELING CONFERENCE CALL
Cott Corporation will host a conference call on Monday, September 25, 2017, at 10 a.m. EST, to discuss the financial reporting of the business prior to closing as well as to provide modeling information on the expectations of the new business, which can be accessed as follows:
North America: (888) 231-8191
United Kingdom: 0-800-051-7107
International: (647) 427-7450
Conference ID: 79558487
A live audio webcast will be available through Cott's website at http://www.cott.com along with a copy of the slide presentation that will be used on the call. The conference call will be recorded and archived for playback on the investor relations section of the website for a period of two weeks following the event.
ABOUT COTT CORPORATION
Cott is a diversified beverage company with a leading volume-based national presence in the North America and European home and office bottled water delivery industry, a leader in custom coffee roasting and blending of iced tea for the U.S. foodservice industry, and a leader in the production of beverages on behalf of retailers, brand owners, and distributors. Our platform reaches over 2.3 million customers or delivery points across North America and Europe supported by strategically located sales and distribution facilities and fleets, as well as wholesalers and distributors. This enables us to efficiently service residences, businesses, restaurant chains, hotels and motels, small and large retailers, and healthcare facilities.
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 completion of the transaction on the terms proposed, the anticipated timing of the transaction, the potential impact the acquisition will have on Cott and related matters, and the execution of our strategic priorities. 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: the satisfaction of the conditions to the transaction and other risks related to the completion of the transaction and actions related thereto; Cott's and Refresco's ability to complete the transaction on the anticipated terms and schedule, including the ability to obtain regulatory approvals; 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.
SOURCE Cott Corporation