S&D Coffee is selling out, agreeing to a $355 million takeover offer from Cott Corp., a Tampa, Fla.-based company that distributes a range of beverages.
S&D is a family owned businesss started in 1927 and a perennial member of the Grant Thornton/Business North Carolina rankings of the largest private companies in North Carolina. It has shown rapid growth over the past decade under guidance of CEO Ron Hinson, who has helped craft deals with large U.S. food chains.
Cott’s statement on the sale noted that S&D will post $550 million in revenue this year. The Florida company had $1.4 billion in revenue during the first half of this year and has a market valuation of $1.8 billion.