Cott Corp secures US$45m Aquaterra buy
Cott Corp has continued to diversify its portfolio with the completion of the CAD62m (US$44m) takeover of Canadian home and office water delivery company, Aquaterra.
The deal, first announced last month, increases Cott's bottled water services footprint following its purchase of the US-based DS Services in 2014. Aquaterra will become part of DS Services' reporting category and will be led by the unit's CEO, Tom Harrington.
"The Aquaterra acquisition demonstrates the continuing execution of our strategy to become a more diversified beverage provider across multiple channels and geographies, as well as our continuing consolidation of the higher-margin home and office water delivery and coffee services category," said Cott CEO Jerry Fowden.
Cott has expanded beyond contract and own-brand manufacturing of CSDs in the past few years in a bid to stabilise its US business. The strategy helped push Cott back into the black in its most recent nine-month results, released in October.
Sparkling water has become popular in developed countries such as the US and Canada, especially among health-conscious consumers who prefer it as an alternative to carbonated beverages. A large number...
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