July 25, 2017 / 6:29 AM / in 2 months

BRIEF-Cott announces sale of its traditional beverage business to Refresco for $1.25 bln

July 25 (Reuters) - Cott Corp

* Cott announces agreement to sell its traditional beverage manufacturing business to Refresco in all-cash transaction

* Deal for $1.25 billion dollars

* Deal includes Cott’s North America, UK, and Exico businesses (excluding RCI international division and its associated concentrate facility as well as Aimia Foods Division)

* Says this will shift Cott’s core focus to growing categories of water, coffee, tea and filtration

* Cott to reduce leverage to below 3.5x net debt to 2017 pro forma adjusted EBITDA (excluding Cott beverages) after sale proceeds are used

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* Cott says sale proceeds used for redemption of $250 million of 10 per cent DS senior secured notes, $525 million of our 5.375 per cent notes, paying off asset-based lending facility Source text for Eikon: Further company coverage:

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