Cott Corporation has made an announcement on its settlement of a definitive share purchase agreement for the acquisition of the European home and office water delivery (HOD) business Eden Springs.
Cott has agreed the purchase deal for 470 million, representing about seven-fold of adjusted pre-tax earnings of more than 60 million for the current year of Eden Springs.
Investment funds affiliated with Rhne Capital is selling the HOD company to Cott.
Cott has revealed that the company, through this acquisition, will be able to expand the distribution platform of its current business in the UK/European market through delivering access to a direct-to-consumer route distribution platform in the region serving more than 800,000 homes and offices.
Cott has disclosed that it might also serve as a platform and help the company carry out more related acquisitions in the days to come.