S&D Coffee & Tea acquired by beverage Giant Cott corporation
One of the largest coffee companies in the United States, North Carolina-based S&D Coffee & Tea has been acquired by the Canadian beverage company Cott Corporation. The purchase price was approximately $355 million, according to a Street Insider report.
Jerry Fowden, Cott’s Chief Executive Officer said, “After closing the S&D acquisition, we will have a leading position in the coffee and tea foodservice industry in North America, which is an excellent complement to our leading HOD water, office coffee and filtration business” (streetinsider.com).
According to an S&D announcement, the company will now be a subsidiary of Cott, which is based in Canada and has headquarters in Tampa, Fla., while the S&D management team will “assume the same scope and responsibilities.” The announcement added that S&D’s Ron Hinson will stay on as the CEO. S&D will also remain at its Concord headquarters, where the company has in recent years invested millions of dollars in infrastructure improvements.
Founded 89 years ago and owned for decades by the Davis family, S&D has grown into one of the largest U.S. roasters and distributors of coffee products for the restaurant, hospitality, retail and grocery segments, while also providing comprehensive development and distribution services for tea and liquid extracts. dailycoffeenews.com
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