A team led by Philadelphia partners Jack Michel and Matt Meyers and Chicago associate Adam Weinstock advised longtime firm client Cott Corporation in entering into a definitive agreement to sell its traditional beverage manufacturing business for $1.25 billion. The purchaser is Refresco Group, a Netherlands-based publicly traded beverage company. Cott’s traditional business manufactures carbonated soft drinks and shelf-stable juice beverages in the United States, Canada, Mexico and the United Kingdom.
The transaction closed in the first quarter of 2018. Cott retains its Water & Coffee Solutions business segment, including the DS Services, Eden Springs and Aquaterra water businesses, and S&D Coffee and Tea (each of which was acquired by Cott, with Drinker Biddle’s assistance, within the past three years), its Aimia Foods business in the U.K., and its RCI beverage concentrate manufacturing business.
Outside the United States, Squire Patton Boggs assisted the team with UK law matters, Goodmans advised on Canadian law matters and CMS advised on Dutch law matters.