Plans to Transition Cott into a Pure-Play
Water Solutions Provider
TORONTO and TAMPA, FL, Jan. 8,
2020 /PRNewswire/ - 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.
Website: www.cott.com
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SOURCE Cott Corporation