Canada's Cott Corp said on Friday it would sell its S&D Coffee and Tea business to privately owned Westrock Coffee Co for $405 million in cash, as it looks to focus on its more profitable water business.
The company's coffee, tea and extract unit posted revenue of $587.6 million in fiscal 2018, accounting for nearly a quarter of its overall sales.
Earlier this month, Cott said it would buy U.S.-based Primo Water Corp for $549.4 million, bolstering its bottled water business in the North American market.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D'Silva)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 26.07 CAD | +0.54% | +1.91% | 3.03B | ||
| - USD | -.--% | +9.56% | 557M | ||
| 5,350 JPY | -.--% | -0.19% | 12.52B | ||
| 48.02 USD | -1.08% | +1.95% | 12.47B | ||
