Cott closes acquisition of Aquaterra
Cott Corporation has closed its acquisition of Aquaterra for approximately $62 million.
The acquisition was funded using cash on hand as well as borrowings under Cott’s asset based lending facility.
Aquaterra, Canada’s oldest and largest direct-to-consumer home and office water delivery business, has been a portfolio of Birch Hill Equity Partners since 2006.
The acquisition extends Cott’s Canadian beverage portfolio into new and growing markets, including water and coffee home and office delivery, water filtration services, and retail services. The acquisition broadens Cott’s customer reach adding over 70,000 new customers and delivery points.
Aquaterra will become a part of Cott’s DS Services reporting segment and will be led by Tom Harrington, DS Services’ CEO.