Tampa’s Cott plans rebrand after Primo Water deal
Cott Corp., a Tampa beverage company, will rebrand after buying Primo Water Corp., a Winston-Salem, North Carolina-based water company. Cott (NYSE:COT) said it has definitive agreement pursuant to buy Primo for $14 a share, in a cash and stock deal that values Primo at about $775 million. After the deal closes, Cott will change its corporate name to Primo as it transitions to a pure-play water solutions provider, a news release said. Cott said last week that it is evaluating strategic alternatives for its coffee, tea and extract solutions segment. The company sold its carbonated soft drinks and juice businesses in 2018.