ACQUISITIONS IN NORTH AMERICA TAMPA, Fla., Jan. 4, 2022 /PRNewswire/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company" or "Primo"), a leading provider of sustainable drinking water solutions in North America and Europe, today announced that Primo Water North America ("PWNA"), a wholly-owned subsidiary of Primo, has acquired two water businesses in North America, both of which are leading independent distributors of Primo's Mountain Valley® premium water brand:
- PWNA has acquired substantially all of the assets of Clear Mountain Refreshment Services, dba Premium Refreshment Service, headquartered in Little Rock, Arkansas.
- PWNA has acquired substantially all of the assets of the Mountain Valley distributor business of North Texas Mountain Valley Corporation, dba Water Event, which operates five locations in Texas.
"With a combined customer count that exceeds 17,000 and an area that includes a population of nearly twenty million residents, these companies will fit seamlessly into the Primo family and align with our mission of inspiring healthier lives through better quality water. Along with continued distribution of Primo's Mountain Valley® premium water brand and our full suite of water product offerings, customers should expect the same great level of service they've been accustomed to," said Tom Harrington, CEO of Primo Water Corporation. "The acquisitions expand the Primo footprint and further our vision of providing water solutions whenever, wherever and however our customers want them. We are excited to welcome these customers and associates to our Primo family!"
For more information on the hydration solutions Primo offers, please visit www.water.com.
ABOUT PRIMO WATER CORPORATION
Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.0 billion in annual revenue. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo's revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through major retailers and online at various price points or leased to customers. The dispensers help increase household penetration which drives recurring purchases of Primo's razorblade offering. Primo's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its market leading Water Direct business, Primo delivers sustainable hydration solutions across its 22-country footprint direct to the customer's door, whether at home or to commercial businesses. Through its market leading Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at over 13,000 locations and water refill units at approximately 22,000 locations, respectively. Primo also offers water filtration units across its 22-country footprint representing a top five position.
Primo's water solutions expand consumer access to purified, spring and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensure strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.
Primo is headquartered in Tampa, Florida (USA). For more information, visit www.primowatercorp.com.