Cott Corp. has made one of its biggest moves yet as part of its shift towards the water business with the acquisition of Primo Water Corp. The beverage company says it will rebrand under the Primo Water Corp. name to reflect its move away from its coffee and tea division as part of a plan to focus on water. The Primo deal, expected to close in March, has Cott paying $14 (U.S.) per share in a combination of cash and Cott shares. Cott says the deal values Primo, a provider of water dispensers, purified bottled water and self-service refillable drinking water in the U.S. and Canada, at about $775 million. The acquisition of Primo is the latest in a wave of recent company moves into the water space.

Source: thestar January 13, 2020 13:41 UTC