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CONCORD, N.C. — S&D Coffee Inc. accepted an acquisition offer from Cott Corp. Following completion of the proposed transaction, S&D will exist as a subsidiary of Cott and continue to operate under the S&D Coffee & Tea name.
Ron Hinson will remain as president and CEO of S&D, continuing nearly 38 years of service with the company. The management team will assume the same scope and responsibilities.
Under the leadership of J. Roy Davis Sr. and Lawrence Switzer, S&D began providing fresh roasted coffee to local and regional grocery stores in 1927. In 1965, J. Roy Davis Jr. shifted the business toward independent restaurants to capitalize on a growing demand for quality coffee and iced tea away from home, leading S&D to become the largest coffee and tea manufacturer and supplier to restaurants and convenience stores in America, according to the company.
"The Davis Family, who founded S&D, deserves our gratitude for all they have done for our company, community and industry," Hinson said. "Generations of people have benefited from their vision, leadership and generosity."
S&D will maintain its presence in Concord. The company anticipates making more investments in infrastructure and workforce as business growth demands.
Tampa, Fla.-based Cott is one of the world's largest producers of beverages on behalf of retailers, brand owners and distributors and one of the leading providers in the direct-to-consumer beverage services industry.
"The acquisition of S&D enables us to become a leading player in the coffee and tea categories due to their excellence as a manufacturer and their prominence as an elite supplier in the restaurant and convenience retail segments," said Cott CEO Jerry Fowden. "With S&D now part of the Cott family, we can further leverage cost efficiencies and growth opportunities across all the Cott companies."
Deloitte Corporate Finance LLC and 7 Mile Advisors acted as joint financial advisors to S&D in connection with the acquisition