CANADA: Cott Corp receives clearance for Cliffstar purchase
Cott Corporation has been granted early antitrust clearance
Cott Corporation has been granted early anti-trust clearance for its proposed acquisition of Cliffstar Corporation.
The firm confirmed on Friday (30 July), that the US Department of Justice and the Federal Trade Commission had given permission for an early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Cott announced it had lined up the purchase of privately-held juice maker Cliffstar for US$500m early last month.
The transaction “combines the number one private-label carbonated soft drink and number one private-label juice manufacturers", the company said at the time.
As well as the $500m, Cott will also pay $14m to Cliffstar in deferred consideration over a three-year period, while also offering the company an "additional contingent earnout consideration" of up to $55m, dependent on its performance up to the end of this year.
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