Cott Corporation, the global branded soft drink supplier, has acquired Premium Beverage Packers. Premium is Cott's largest carbonated soft drinks co-packer in the US, with bottling facilities located in Wyomissing, Pennsylvania.
"This acquisition adds strength to Cott's growing presence in the Northeast," said Frank Weise, Cott chairman, president and chief executive officer. "Premium, which has a long-standing relationship with Cott as a key co-packer, is ideally located to service one of the most densely populated areas in the country."
The company expects that Premium's operations will immediately add approximately $45 million (€45.7m) in annual sales. However, it does not anticipate the acquisition having a material impact on this year's earnings.
Commenting on the transaction, Jeffrey D. Hettinger said: "The sale of my family's soft drink business to Cott will assure its long-term continuity and provide stability to our valued employees. This is positive news for Premium's customers, as Cott brings expertise in category management, customer service and an outstanding track record of working closely with its customers on the success of their retailer brand soft drink programmes."
Under the terms of the deal, which were not disclosed, Cott has acquired all of the outstanding capital stock of Premium, whose assets include working capital and equipment, co-pack manufacturing contracts and certain trademarks.
The privately held Premium was founded in 1951 and is a full-line manufacturer and distributor of quality carbonated and non-carbonated soft drinks and flavoured sparkling waters, seltzers and mixers.
Cott Corporation is the world's largest retailer brand soft drink supplier, with the leading take home carbonated soft drink market shares in this segment in its core markets of the United States, Canada and the United Kingdom.