Crestview Partners has reached an agreement to sell the parent company of DS Services of America to Cott (NYSE: COT) for approximately $1.25 billion, including the assumption of debt and the issuance of preferred shares. Barclays and Credit Suisse have committed to provide financing for the deal, which is expected to close by the end of January 2015. The transaction value represents about 7.1x the company's adjusted EBITDA. DS Services is a direct-to-consumer provider of water and coffee, along with related products and services, to roughly 1.5 million customers through its network. Crestview acquired it in 2013 for a reported $920 million.