Cott Corp., Toronto, said it has completed its acquisition of privately held Cliffstar Corp. for $500 million in cash.
"The completion of the Cliffstar transaction is an important step for Cott," said Jerry Fowden, Chief Executive Officer of Cott. "This combination is a strategic investment in the future as it makes Cott a more balanced and diversified private label supplier with a much broader product portfolio, a manufacturing infrastructure that is second to none in private label and improved growth prospects," continued Fowden. "As we welcome the Cliffstar organization into Cott, we believe that together we can create shareholder value with significant synergies and provide our employees a brighter future while delivering enhanced opportunities for our retailer partners."
The closing of the Cliffstar transaction makes Cott the world's largest retailer brand beverage company. With approximately 4,000 employees, Cott operates soft drink, juice, water and other beverage bottling facilities in the United States, Canada, the United Kingdom and Mexico. Cott markets non-alcoholic beverage concentrates in over 50 countries around the world.
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