Cott uses borrowings under ABL facility to fund S&D Coffee buyout

By Marisa Wong

Morgantown, W.Va., Aug. 12 – Cott Corp. used incremental borrowings under its amended and restated senior secured asset-based lending credit facility and cash on hand to fund its acquisition of S. & D. Coffee, Inc., according to an 8-K filing with the Securities and Exchange Commission.

The total purchase price paid was about $355 million.

As previously reported, Cott entered into an up to $500 million five-year ABL facility on Aug. 2.

Borrowings bear interest at Libor plus a spread of 125 basis points to 175 bps.

JPMorgan Chase Bank, NA is the administrative agent.

Cott is a beverage company based in Toronto and Tampa, Fla. Concord, N.C.-based S&D is a premium coffee roaster and provider of customized coffee, tea and extract solutions.

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