Ropes & Gray Advises Deutsche Bank as financial advisor to Cott Corporation in its acquisition of Primo Water Corporation
Ropes & Gray is advising Deutsche Bank in connection with its role as financial advisor to Cott Corporation in its acquisition of Primo Water Corporation. Cott has entered into a definitive agreement to acquire Primo Water for $14 per share, payable in cash and stock (or a combination thereof) at the election of Primo’s stockholders, subject to the terms of the merger agreement. The transaction values Primo at approximately $775 million. The press release is here.
Primo is a leading provider of water dispensers, purified bottled water, and self-service refill drinking water in the U.S. and Canada. The combination of Cott and Primo, along with the recent announcement of Cott's evaluation of certain strategic alternatives for its S&D Coffee and Tea business, including a sale of S&D, will transition Cott into a pure-play water company.
The Ropes & Gray team that advised Deutsche Bank was led by mergers & acquisitions and private equity partner John Sorkin (New York).