Cott Corporation's UK Subsidiary Announces US$30 Million Loan Repayment

Business Wire,  Dec 5, 2000  

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Business Editors

TORONTO--(BUSINESS WIRE)--Dec. 5, 2000

Cott Corporation (NASDAQ:COTT) (TSE:BCB.) today announced that its UK subsidiary, Cott Beverages Ltd., has repaid a $30 million (Pounds Sterling 21 million) term loan to a syndicate of banks led by Lloyd's TSB plc. This repayment represented the balance of an $83 million (Pounds Sterling 49 million) term loan used to finance its acquisition of Hero Drinks in November 1997.

"This significant milestone strengthens the position of our business," said Neil A. Thompson, executive vice-president and managing director Cott UK and Continental Europe. "Over the past two years, we have placed a strong focus on customer service and innovation in the UK. We have recently added Tesco and Marks & Spencer to our list of customers and launched several new products including organic soft drinks and high-energy mixers" added Thompson.

Cott is the world's largest retailer brand soft drink supplier, with major manufacturing facilities in its three core markets of Canada, the UK and the US

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