Aug. 4. Cott Corp., one of the world’s one of the world’s largest producers of beverages on behalf of retailers, brand owners and distributors, has announced plans to buy Concord-based S&D Coffee Inc. for an undisclosed amount.

UPDATE: Cott Corp. will pay $355 million on a debt and cash free basis

S&D has been a mainstay of Cabarrus County business since 1927.

“We could not be more pleased by what the future holds for our stakeholders, including employees and customers, due to this new strategic combination. The synergies S&D has with Cott, whether technology, supply chain, product, distribution channels or markets, are abundantly clear,” said Ron Hinson, president and CEO of S&D.

“The Davis family…deserves our gratitude for all they have done for our company, community and industry. Generations of people have benefitted from their vision, leadership and generosity,”

– Ron Hinson, president and CEO of S&D

He took over the reins of the company from the late J. Roy Davis Jr., whose father, J. Roy Davis Sr., started the company along with Lawrence Switzer to provide fresh roasted coffee to local and regional grocery stores almost 90 years ago. Starting in 1965, after his father’s death, Davis Jr. shifted the company toward independent restaurants.

Davis Jr. was a fixture in Cabarrus County business and community causes, including the Cabarrus Arts Council. The Davis Theatre, on the second floor of the historic courthouse, is named in honor of the Davis’. Roy Davis Jr. passed away in 2011.

“The Davis family…deserves our gratitude for all they have done for our company, community and industry. Generations of people have benefitted from their vision, leadership and generosity,” Hinson said.

Following the completion of the proposed transaction, S&D will be a subsidiary of Cott, still operating under the S&D Coffee & Tea name. Hinson will remain president and CEO of S&D.

S&D’s presence in the “Concord community will remain unchanged,” according to a press release that was issued at 7:30 this morning.

Indeed, the company anticipates making more investments in infrastructure and the workforce as business growth demands.

Cott—branded around it’s marketing slogan “It’s Cott to be good” years ago—is a global, multi-beverage company headquartered in Tampa, Fla. A Canadian corporation, Cott is in the office coffee services business, as well as direct to home and office water delivery and retail.

Cott employs more than 12,500 people, has operations in 21 countries around the world and has more than $3.3 billion in revenue. It is publicly listed on the New York Stock Exchange (COT) as well as the Toronto Stock Exchange (BCB.TO).

Jerry Fowden, CEO of Cott, said the acquisition of S&D enables Cott 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.”

He expects to be able to 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 by Cott.