US: Cott Corp threatens price hikes - report
Cott Corp. is considering raising its prices this year. The store branded soft drinks maker said yesterday (15 March) that price increases may be necessary to combat possible rises in raw material costs.
At the Reuters Food Summit, Cott's president and CEO, John Sheppard said; "We take pricing to cover raw materials. We don't take it to improve our margins, we get our margin improvement through efficiency gains."
Cott's prices are about 38% lower than Coca-Cola Co.'s and PepsiCo Inc.'s, which Sheppard said is a little bit too much. "We feel comfortable with that (gap) in the low 30s," he said.
The increase in aluminium costs cut into the company's profits last year, as did the construction of a new plant in Texas.
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