TORONTO, ONTARIO--(March 28, 2006) -
Attention Business Editors:
Cott Corporation (TSX:BCB)(NYSE:COT) today announced that its acquisition of Macaw (Soft Drinks) Ltd. has received provisional clearance from the U.K.'s Competition Commission.
"This is excellent news for Cott," stated John Sheppard, President and Chief Executive Officer of Cott in responding to the announcement. "We continue to expect that our acquisition of Macaw will receive final clearance in May and we look forward to formally bringing the business into the Cott family. I want to thank our U.K. team for their hard work on this project, all the while remaining focused on delivering exceptional service to our customers and continuing to grow our business."
Cott acquired Macaw Soft Drinks, then a privately owned manufacturer of retailer brand soft drinks, on August 10, 2005 for approximately $135 million USD (75.7 million pounds sterling). Macaw's assets include production lines for carbonated soft drinks, dilute-to-taste and aseptic beverages in manufacturing plants located in Nelson, Lancashire.
The Competition Commission is expected to issue its final report by May 15, 2006.
About Cott Corporation
Cott Corporation is one of the world's largest retailer brand beverage suppliers whose principal markets are the United States, Canada, the United Kingdom and Mexico. The Company's website is www.cott.com.
Safe Harbor Statements
This press release contains forward-looking statements reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions, and include, without limitation, stability of procurement costs for raw and packaging materials, the Company's ability to restore plant efficiencies and lower logistics costs, adverse weather conditions, competitive activities by national, regional and retailer brand beverage manufacturers, the Company's ability to develop new products that appeal to consumer tastes, the Company's ability to identify acquisition candidates, successfully consummate acquisitions and integrate acquired businesses into its operations, fluctuations in currency versus the U.S. dollar, the uncertainties of litigation and regulatory review, loss of key customers and retailers' continued commitment to their retailer brand beverage programs. The foregoing list of factors is not exhaustive. The Company undertakes no obligation to publicly update or revise any forward-looking statements.