Cott Corp to sell coffee, tea business for $405 mln

Primo Water

31/01/2020 12:10

Jan 31 (Reuters) - Canada's Cott Corp  BCB.TO  said on
Friday it would sell its S&D Coffee and Tea business to
privately owned Westrock Coffee Co for $405 million in cash, as
it looks to focus on its more profitable water business.
    The company's coffee, tea and extract unit posted revenue of
$587.6 million in fiscal 2018, accounting for nearly a quarter
of its overall sales.
    Earlier this month, Cott said it would buy U.S.-based Primo
Water Corp  PRMW.O  for $549.4 million, bolstering its bottled
water business in the North American market.
  urn:newsml:reuters.com:*:nL4N29I2J7

 (Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil
D'Silva)
 ((Praveen.Paramasivam@thomsonreuters.com; within U.S. +1 646
223 8780 (Extn. 3478), outside U.S. +91  80 6182 3478;))