Cott finalises acquisition of Royal Crown
acquisition of certain Royal Crown assets from Cadbury Schweppes
plc for approximately $94 million.
Cott Corporation, the world's largest retailer brand soft drink supplier, announced on July 23 that it has completed its acquisition of certain Royal Crown assets from Cadbury Schweppes plc for approximately $94 million. At the same time, Cott named two senior executives, Paul Richardson and Neil Thompson, who will lead the integration and management teams for the expanded business. "With Paul and Neil as key leaders, I am confident that the RC acquisition will prove to be a hallmark success," said Frank E. Weise, Cott's president and chief executive officer. "This is an important milestone for Cott. We now move forward as a fully integrated beverage Company - from creating consumer-preferred formulas and making quality concentrates, to operating production plants and providing the highest levels of customer service at each point." This is the second strategic acquisition for Cott in the last nine months. In October 2000, Cott acquired the private label soft drink and Vintage™ brand seltzer water assets of Concord Beverage, providing the Company with a solid base of new customers in the Northeast U.S. market and increased market share.
