Pestalozzi advises Cott Beverages on the financing of Cott's USD 775 million acquisition of Primo Water
On 13 January 2020, Cott announced the acquisition of Primo Water. The newly created company will have approximately $2.0 billion in combined water sales and a presence in 21 countries worldwide.
Cott (NYSE:COT; TSX:BCB) is a water, coffee, tea, extracts and filtration service company with a leading volume-based national presence in the North American and European home and office delivery industry for bottled water. Cott is also a leader in custom coffee roasting, iced tea blending, and extract solutions for the U.S. foodservice industry. Cott's platform reaches over 2.5 million customers or delivery points across North America and Europe.
Primo Water (Nasdaq: PRMW) is North America's leading single-source provider of water dispensers, multi-gallon purified bottled water, and self-service refill drinking water. Primo’s dispensers, exchange and refill products are available in thousands of retail locations and online throughout the United States and Canada.
As Cott aligns itself to a new business model, the company is taking the opportunity to rebrand as Primo Water Corporation to reflect the group's leading position in the drinking water market.
Pestalozzi was engaged as Swiss counsel and advised on all legal aspects.