Plans to Transition Cott into a Pure-Play Water Solutions Provider
TORONTO and TAMPA, FL, Jan. 8, 2020 /CNW/ – Cott Corporation (NYSE:COT; TSX:BCB) (the "Company" or "Cott"), today announced that, as part of the Company’s strategic planning process, it is evaluating certain strategic alternatives for S&D Coffee and Tea ("S&D"), including a sale of S&D, to transition Cott into a pure-play water solutions provider. S&D is the U.S. market leader in custom coffee roasting and the largest blender of iced teas for food service and convenience stores in the United States. S&D is also a leader in the high growth category of extracts and ingredients.
Cott has engaged a financial advisor as part of its strategic planning process to assist it in evaluating whether there are alternatives available to Cott’s Coffee, Tea and Extract Solutions operating segment that would either complement its strategy of organic growth or otherwise enhance shareholder value. There can be no assurance that any particular alternative will be pursued. Cott does not propose to comment further on these matters unless disclosure thereof is warranted.
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. Forward-looking statements involve inherent risks and uncertainties and Cott cautions you that a number of important factors could affect actual outcomes. The forward-looking statements contained in this press release include those relating to future plans for aspects of Cott’s business. There can be no assurance that Cott will successfully identify, pursue or consummate any alternative that enhances shareowner value. 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 most recent Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as other periodic reports filed 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.
ABOUT COTT CORPORATION
Cott is a water, coffee, tea, extracts and filtration service company with a leading volume-based national presence in the North American and European home and office delivery industry for bottled water, and a leader in custom coffee roasting, iced tea blending, and extract solutions for the U.S. foodservice industry. Our platform reaches over 2.5 million customers across North America and Europe and is 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.
SOURCE Cott Corporation