Cott Expands UK Business With $80 Million Acquisition of Aimia Foods
Cott Corporation has announced that its United Kingdom/Europe business unit has acquired Aimia Foods in a deal worth US$80 million. A privately owned business based in Merseyside, England, Aimia Foods had revenues of approximately US$110 million for the twelve months ending March 31, 2014.
Jerry Fowden (pictured), Cott’s chief executive, comments: “The Aimia Foods acquisition accelerates our diversification strategy, bringing a strong hot and cold beverage platform and multiple foodservice relationships into our portfolio. Aimia has extensive expertise in new product categories, packaging formats and trade channels, such as the packaging of powdered beverages, which we believe enhances the diversification opportunities available to the combined businesses. Aimia’s core strengths lie in the manufacturing, sale and marketing of Aimia-owned and third party licensed beverage brands across all sectors of the UK market, including foodservice, vending, cash & carry and retail. Aimia has been highly successful in maintaining strong relationships with leading brand-owners and outsourcing partners, and we look forward to continuing to build these relationships under Aimia’s current leadership team.”
The transaction is intended to accelerate in both pace and scale Cott’s acquisition based diversification outside of carbonated soft drinks and shelf stable juices, with a focus on other beverage categories, as well as on driving Cott’s channel mix beyond large format retail and supermarket stores.
