Shareholders of Refresco Group have approved the acquisition of Cott's bottling activities for $1.25bn in cash.
The deal is anticipated to close in the fourth quarter of this year subject to certain closing conditions and regulatory approvals.
Almost all the shareholders have agreed the acquisition in the meeting in which 78.9% of outstanding shares were represented.
Refresco CEO Hans Roelofs said that the acquisition will enable the company to strengthen its bottle distribution for retailers and A-brands thereby increasing the production volume to above 12 billion liters across 59 production sites.
Roelofs said: “With this acquisition, we create a nationwide coverage in the US, the largest single soft drinks market globally, while adding significant capacity and extending our broad product portfolio in the UK.”
Soft drinks and fruit juices bottler Refresco agreed to buy Cott's bottling activities for a purchase price of $1.25bn in July this year.
The transaction includes Cott’s traditional beverage manufacturing business (Cott Beverages) and the company’s North America, UK, and Mexico businesses.
It does not include the RCI International division and its associated concentrate facility as well as the Aimia Foods division.
The bottling activities of Cott include a beverage platform with a portfolio of non-alcoholic beverages, focused on retailer brands and contract manufacturing.
Cott Beverages produces various types of beverages in several packaging formats and sizes, including carbonated soft drinks, 100% shelf stable juice and juice-based products, energy drinks, ready-to-drink alcoholic beverages, and several others.
Refresco provides a range of product and packaging combinations for fruit juices, carbonated soft drinks and mineral waters in carton, PET, Aseptic PET, cans and glass.
