Cott Corporation has announced that it is selling its Cott Beverages business to Refresco for $1.25 billion.

The transaction includes Cott’s North America, U.K. and Mexico businesses, with the exception of Cott’s RCI International and Aimia Foods divisions.

Cott Beverages produces carbonated soft drinks, juice, energy drinks and other beverages on behalf of retailers, brand owners and distributors. It has annual revenue of about $1.7 billion. Refresco is the leading independent bottler of soft drinks and fruit juices for retailers and A-brands, with an annual revenue of about $2.4 billion.