Cott Acquires Premium Beverage Packers, Inc.; Move Strengthens Presence In The Northeast.Business Editors (All information in U.S. Dollars) Cott Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :COTT; TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band ) today announced it has acquired Premium Beverage Packers, Inc. Premium is Cott's largest carbonated soft drinks co-packer in the U.S., with bottling facilities located in Wyomissing, PA "This acquisition adds strength to Cott's growing presence in the Northeast," said Frank E. 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 pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. areas in the country." The Company expects that Premium's operations will immediately add approximately $45 million 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 programs." 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. About Premium Beverage Packers, Inc. The privately held Premium was founded in 1951 as the Green Spot Bottling Co. and moved to its present Wyomissing plant location in 1969. The Company is a full-line manufacturer and distributor of quality carbonated and non-carbonated soft drinks and flavored sparkling waters, seltzers and mixers. About Cott Corporation 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and the United Kingdom. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statements This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions, and include, without limitation, stability of procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. costs for raw and packaging materials, adverse weather conditions, competitive activities by national, regional and retailer brand beverage manufacturers, the Company's ability to integrate acquired business into its operations, fluctuations in currency versus the U.S. dollar, the uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and retailers' continued commitment to their retailer brand beverage programs. The foregoing list of factors is not exhaustive. The Company undertakes no obligation to publicly update or revise any forward-looking statements. |
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