Crescendo Partners Discloses A 8.7% Stake In Cott Corp (COT) In A 13D Filing

May 23, 2008 3:41 PM EDT
In a 13D filing on Cott Corp (NYSE: COT), Crescendo Partners disclosed 8.7% stake in the company.

Crescendo Partners has engaged in and intends to continue to engage in discussions with management and the Board of Directors of the Issuer concerning the business, operations and future plans of the Issuer, as well as representation on the Board of Directors of the Issuer and potential changes in the composition of the management team and the Board of Directors of the Issuer.

On May 23, 2008, Crescendo Partners and Mr. Reider signed a letter agreement (the “Reider Letter”) setting forth the terms upon which Mr. Reider would be willing to act as Chief Executive Officer of the Issuer and which Crescendo Partners would be willing to propose and support in the event that Crescendo Partners were to receive representation on the Board of Directors of the Issuer and the Board of Directors were to subsequently agree to appoint Mr. Reider to serve as the Chief Executive Officer of the Issuer.

On May 23, 2008, Crescendo Partners and Mr. Benadiba signed a letter agreement (the “Benadiba Letter”) setting forth the terms upon which Mr. Benadiba would be willing to act as Chairman of the Issuer and which Crescendo Partners would be willing to propose and support in the event that Crescendo Partners were to receive representation on the Board of Directors of the Issuer and the Board of Directors were to subsequently agree to appoint Mr. Benadiba to serve as Chairman of the Issuer.

Cott Corporation is a non-alcoholic beverage company and a provider of retailer brand soft drink.

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Crescendo Partners