Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. The company operates in two segments, Primo Water and Primo Dispensers. The Primo Water segment offers exchange and refill products through point of purchase display racks, or self-serve filtered water displays and recycling centers. The Primo Dispensers segment sells water dispensers that are designed to dispense Primo and other dispenser-compatible bottled water. As of December 31, 2015, the company's products and services were offered at approximately 25,700 combined retail locations. Primo Water Corporation was founded in 2004 and is headquartered in Winston-Salem, North Carolina.
Primo Water to Acquire Glacier Water Services, Inc. WINSTON-SALEM, N.C., and VISTA, Calif., Oct. 10, 2016 (GLOBE NEWSWIRE) -- Primo Water Corporation (PRMW), a leading provider of multi-gallon purified bottled water, self-service refill water and water dispensers, and Glacier Water Services, Inc., a leading provider of high-quality drinking water dispensed to consumers through self-service refill water machines, today announced that they have executed a definitive merger agreement pursuant to which Primo will acquire all outstanding shares of Glacier. With the strategic acquisition, Primo will have approximately 46,000 retail locations throughout the U.S. and Canada. The transaction will unite two highly complementary brands and is intended to generate significant operating scale through an expansive refill and exchange network. Additionally, the acquisition will drive future cross-selling opportunities, significant cost savings and consistent cash flows. On a pro forma trailing twelve months (“TTM”) basis ended June 30, 2016, the acquisition creates a combined company with approximately $272.6 million in net sales, $14.3 million in income from operations and $45.4 million in adjusted EBITDA. The acquisition will provide retail partners and consumers a diversified, high-quality water and water dispenser offering. For consumers, the combination will provide access to purely amazing water throughout leading U.S. and Canadian retailers, almost doubling Primo’s existing location total. “We are excited to announce the acquisition of Glacier Water, an industry leader in self-service refill water with an exceptional brand. Together, we will continue to drive our mission of Inspiring Heathier Homes thru Better Water. This acquisition provides the opportunity to create significant value for our shareholders and offers strong benefits for our consumers and retail partners,” commented Billy D. Prim, Primo’s Chairman and Chief Executive Officer. (Read More)
