Deals
Cott to Buy Juice-Maker Cliffstar for $500 Million
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Cott Corp., the largest North American private-label soda maker, agreed to buy closely held Cliffstar Corp., a maker of store brand juice for Wal-Mart Stores Inc., for $500 million in cash.
Cott will fund the transaction with up to $375 million in new debt, as much as $95 million in new shares and up to $75 million in loans under its asset-based lending facility. The deal is expected to close in the current quarter, Cott, based in Mississauga, Ontario, and Tampa, Florida, said today in a statement.