Cott Announces Acquisition of Clearwater, Expanding its Pres
TORONTO and TAMPA, FL and BUDAPEST, HUNGARY, Jan. 9, 2020 /PRNewswire/ - Cott Corporation (NYSE: COT; TSX: BCB) (the "Company" or "Cott"), a leading provider of home and office bottled water delivery services in North America and Europe and a leader in custom coffee roasting for the U.S. food service industry, today announced that Cott and Eden Springs, a wholly-owned subsidiary of Cott, have acquired 100% of the shares of Hungarian company, Clearwater Kereskedelmi és Szolgáltató Korlátolt Felelősségű Társaság ("ClearWater").
Through the acquisition of ClearWater, Eden Springs will enter the Hungarian market and add approximately 14,000 machines on location. The transaction also includes intellectual property for a carbonation technology patent that will provide customers with carbonated water through water filtration dispensers and bottled water coolers. Eden Springs plans to introduce ClearWater's carbonation technology to other markets.
"ClearWater is the market leader in providing water across Hungary, with significant density in Budapest, and shares our commitment to excellence," said Antonio Alarcon, President of Eden Springs Continental Europe. "We are excited to expand our presence to Hungary and look forward to welcoming ClearWater's customers and associates to the Eden Springs family."
"Eden Springs has a strong reputation of quality and commitment to service," said Scott Nicol, owner of ClearWater. "Moving forward into 2020, in addition to our sparkling water and technology, our customers will now benefit from even more water and coffee solutions for their hydration needs."
For more information on the hydration solutions Eden Springs offers, please visit www.edensprings.com.
ABOUT COTT CORPORATION
Cott is a water, coffee, tea, extracts and filtration service company with a leading volume-based national presence in the North American and European home and office bottled water delivery industry and a leader in custom coffee roasting, blending of iced tea, and extract solutions for the U.S. foodservice industry. Our platform reaches over 2.5 million customers or delivery points across North America and Europe supported by strategically located sales and distribution facilities and fleets, as well as wholesalers and distributors. This enables us to efficiently service residences, businesses, restaurant chains, hotels and motels, small and large retailers, and healthcare facilities.
ABOUT EDEN SPRINGS
Eden Springs is Europe's leading provider of workplace drinks solutions, offering a complete, one-stop service to meet every organization's water and coffee needs. Eden supplies integrated water and coffee service solutions to over 800,000 customers in 18 countries, including a broad range of bottle-fed water coolers, plumbed-in water coolers and small pack bottles as well as hot beverages solutions including coffee machines, high quality coffee, tea and other accessories. Eden Springs has been a part of Cott Corporation since 2016.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 conveying management's expectations as to the future based on plans, estimates and projections at the time Cott makes the statements. Forward-looking statements involve inherent risks and uncertainties and Cott cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include, but are not limited to, statements related to the completion of the transaction on the terms proposed, the anticipated timing of the transaction, expected synergies and contribution to Cott's performance, and the potential impact the acquisition will have on Cott and related matters. The forward-looking statements are based on assumptions regarding the time necessary to satisfy the conditions to the closing of the transaction and management's current plans and estimates. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate.
Factors that could cause actual results to differ materially from those described in this press release include, among others: changes in expectations as to the closing of the transaction; integration problems, delays or other related costs; and unanticipated changes in laws, regulations, or other industry standards affecting the companies.
The foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors contained in Cott's Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as other filings with the securities commissions. Cott does not undertake to update or revise any of these statements in light of new information or future events, except as expressly required by applicable law.
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SOURCE Cott Corporation