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.