US: Cott Corp "considers alternatives"
Will Cott Corp be buying or selling in 2014?
Cott Corp has confirmed that it is “evaluating” what direction to take the company in the future, noting that all options are being considered.
The North American private label soft drinks producer was moved to release a statement yesterday (5 February) in response to “recent market speculation”. The statement said that Cott has asked Credit Suisse to look at its options.
“Consistent with past practice,” the company said, “the board of directors has engaged Credit Suisse LLC as part of its strategic planning process to assist it in evaluating whether there are alternatives available to Cott that would either complement its strategy of organic growth and growth through diversification or otherwise enhance shareholder value.”
In late-October, Cott posted a plunge in nine-month profits by a third as its Q3 volumes in the US suffered from an overall industry decline. The results prompted one analyst to estimate that the company will post a 9% fall in 2013 volumes instead of a previous estimate of a 5.5% drop.
The company warned today that it has not identified any “particular alternative” yet.
“Cott does not propose to comment further on these matters unless disclosure thereof is warranted,” the statement concluded.
Cott is set to report its full-year results on Wednesday (12 February).
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