Primo Water and BlueTriton to merge, creating packaged water leader

The combined company is expected to have $6.5bn in net revenue and $1.5bn in adjusted EBITDA. Its portfolio will include brand such as Poland Spring, Deer Park and Pure Life (currently BlueTriton) and Primo Water, Mountain Valley and Crystal Springs. From Arrowhead to ReadyRefresh The merger will create a new entity with a diversified portfolio of brands, a national footprint and combined delivery platform, say the two companies. Furthermore, the companies estimate they can make around $200m in cost synergies by merging their operations. And they believe they’re well-placed to capitalize on the large and growing water category, with consumers increasingly focused on health and wellness and turning away from sugary drinks. They also champion the sustainability credentials of Primo Water's large format bottles - which are designed to be reused up to 40 times before being recycled - as a factor that will play into consumer preferences. The portfolio of the two companies will be be split between retail brands (around 56% of net revenue), water direct and exchange services (around 40%), and in refill, filtration and dispensers systems (4%). New combined company With the name yet to be confirmed, the new company will be dual-headquartered in Tampa, Florida; and Stamford, Connecticut. Robbert Rietbroek, the current CEO of Primo Water, will serve as CEO of the combined company. Dean Metropoulos, the current Chairman of the Board of BlueTriton, will become Non-Executive Chairman of the Board; David Hass, the current Chief Financial Officer of Primo Water, will become Chief Financial Officer, and Rob Austin, the current Chief Operating Officer of BlueTriton, will serve as Chief Operating Officer. Primo Water and BlueTriton shareholders will exchange their respective shares into shares of a new holding company. Primo Water shareholders and holders of incentive equity are expected to own 43% of the fully diluted shares of the new company, and BlueTriton shareholders are expected to own 57% of the fully diluted shares. The combined company is expected to continue to be listed on the NYSE, subject to approval of such listing by the NYSE. The common shares of Primo Water, as a wholly owned subsidiary of the new company, will no longer be listed on any public market. The transaction is expected to close in the first half of 2025.

Primo Water and BlueTriton to merge, creating packaged water leader

Combining the strengths of Primo Water and BlueTriton Brands will create a leading North American pure-play healthy hydration company.

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