Cott Corporation acquires S&D Coffee & Tea
S&D Coffee & Tea has accepted an offer made by the Cott Corporation to be acquired.
Following the completion of the proposed transaction, S&D will be a subsidiary of Cott, still operating under the S&D Coffee & Tea name. Financial terms of the deal were not disclosed. Ron Hinson, who has been with the company for almost 38 years, will remain president and CEO of S&D, which is based in Concord, N.C. The management team will assume the same scope and responsibilities.
“The Davis Family, who founded S&D, deserves our gratitude for all they have done for our company, community and industry. Generations of people have benefited from their vision, leadership and generosity,” said Hinson.
The company anticipates making more investments in infrastructure and the workforce as business growth demands.
Hinson added, “We could not be more pleased by what the future holds for our stakeholders, including employees and customers, due to this new strategic combination. The synergies S&D has with Cott, whether technology, supply chain, product, distribution channels or markets, are abundantly clear.”
On the acquisition, Jerry Fowden, CEO of Cott, said, “The acquisition of S&D enables us to become a leading player in the coffee and tea categories due to their excellence as a manufacturer and their prominence as an elite supplier in the restaurant and convenience retail segments. With S&D now part of the Cott family, we can further leverage cost efficiencies and growth opportunities across all the Cott companies.”