Aimia Foods sold to Canadian group for £47m
AIMIA Foods, the Haydock-based food and beverage manufacturer, has been sold to Canadian group Cott Corp for more than £47m,($80m).
The family0wned company has annual revenues of around £65m and employs more than 240 people.
Rob Unsworth, managing director of Aimia said: “We firmly believe that bringing Aimia Foods into the Cott family will provide additional opportunities for the benefit of our employees and customers alike.
“Our leadership team is excited to work with Cott to keep building on the strong foundation already established.”
Jerry Fowden, Cott’s chief executive added: “The Aimia Foods acquisition accelerates our diversification strategy, bringing a strong hot and cold beverage platform and multiple food service relationships into our portfolio.
“Aimia has extensive expertise in new product categories, packaging formats and trade channels, such as the packaging of powdered beverages, which we believe enhances the diversification opportunities available to the combined businesses.”
Advisers included the Manchester office of international law firm Squire Sanders which advised Cott on the deal.
Jonathan Boyers, partner and corporate head of KPMG in Manchester and law firm Eversheds advised the vendors.
The Squire Sanders team was led by Jane Haxby, European head of the firm’s global corporate practice. She said: “The deal offers a strong platform for the combined operations to maximize expansion.”
Jonathan Boyers said: “We are currently seeing a high amount of deal activity in the food and drink sector. In particular, food and drink producers which have looked after their balance sheets well during the recession are now seeking to drive efficiencies, and expand their product portfolio and customer base through M&A, joint ventures and alliances.
“Aimia Foods’ hot and cold beverage offering, coupled with its packaging capabilities and strong customer base, make it a good strategic fit for Cott Corporation.”
Headquartered at Mississauga, Ontario, Cott Corporation is listed on the New York Stock Exchange and is one of the world’s largest producers of beverages on behalf of retailers, brand owners and distributors, with manufacturing facilities in the US, Canada, the UK and Mexico.
