Cott leading S&P/TSX on news of possible sale of coffee, tea division

Investing.comJan 08, 2020 15:46

Brenda O’Farrell

Investing.com

Cott Corp (TSX:BCB) was the top performing stock on the S&P/TSX Composite Wednesday afternoon, gaining almost 4%.

The spike was the result of an announcement by the Toronto-based company that it is “evaluating certain strategic alternatives” for S&D Coffee and Tea. These alternatives include selling operating segment to allow Cott to transition into “a pure-play water solutions provider.”

S&D is the U.S. market leader in custom coffee roasting. It is also the largest blender of iced teas for food service and convenience stores in the U.S.

Cott has hired a financial adviser to assist in the strategic planning process as it explores alternatives for its coffee, tea and extract solutions operations “that would either complement its strategy of organic growth or otherwise enhance shareholder value.

Get The App
Join the millions of people who stay on top of global financial markets with Investing.com.
Download Now

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes