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Beverage firm sells coffee, tea operations for $405 million

The move continues Tampa-based Cott Corp.’s shift to a water-only company.


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  • | 11:43 a.m. February 4, 2020
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Cott Corp. CEO Tom Harrington is leading the beverage company's shift toward dealing only in water. Courtesy photo.
Cott Corp. CEO Tom Harrington is leading the beverage company's shift toward dealing only in water. Courtesy photo.
  • Tampa Bay-Lakeland
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TAMPA — Cott Corp. has sold its S&D Coffee & Tea division for $405 million to North Little Rock, Ark.-based Westrock Coffee Co. LLC. The deal is expected to close in the first quarter, subject to regulatory approval.

S&D, according to a press release, dates back to 1927. It has since become a market leader in coffee and tea for foodservice and convenience store clients. It also produces extracts and ingredients.

"The S&D team is known for its dedication, hard work and passion for quality beverages and first-class service to its customers,” Cott CEO Tom Harrington states in the release. “That commitment is evident to anyone who visits S&D or works with them, and we are confident S&D will continue to thrive under its new ownership."

On Jan. 13, Cott announced that it had agreed to acquire Primo Water Corp. in a transaction valued at $775 million. Primo is a supplier of water dispensers, purified bottled water and self-service refill drinking water. 

“The combination of the sale of S&D, along with the acquisition of Primo Water Corp., positions Cott to be a pure-play water solutions provider with financial metrics more in line with our water peers," Harrington adds in the release. 

Cott (NYSE: COT) reported gross revenue of $2.27 billion in 2018, up from $1.62 billion in 2017. 

 

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