CANADA: Cott Corporation's Cliffstar purchase finalised

By | 18 August 2010

Cott Corporation has completed its acquisition of Cliffstar Corporation

Cott Corporation has completed its acquisition of Cliffstar Corporation

Cott Corporation has completed its acquisition of Cliffstar Corporation.

"The completion of the Cliffstar transaction is an important step for Cott," said company CEO Jerry Fowden yesterday (17 August). "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.”

Cott Corp 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.

Sectors: Mergers & acquisitions, Soft drinks, Water

Companies: Cott

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CANADA: Cott Corporation's Cliffstar purchase finalised

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