Fact-checked by Grok 2 weeks ago

Primo Water

Primo Water Corporation was a North American company specializing in multi-gallon purified , self-service water refill stations, water filtration systems, and dispensing equipment, serving residential, commercial, and office customers through direct delivery, retail exchange programs, and refill networks. It was founded in 2004 by entrepreneur Billy D. Prim, who previously established the successful propane exchange business Blue Rhino Corporation. Primo Water initially emphasized innovative water exchange models to provide convenient access to high-quality hydration solutions. In March 2020, Primo Water was acquired by Cott Corporation in a transaction valued at approximately $775 million, leading to Cott's rebranding as Primo Water Corporation and a strategic shift to focus exclusively on water solutions, divesting non-core beverage assets like and operations. Under this structure, the company expanded its operations across all U.S. states and , building a vertically integrated network of exchange locations and refill stations, while prioritizing through reusable packaging and source management. On November 8, 2024, Primo Water Corporation merged with —formerly North America—to form Primo Brands Corporation, creating a leading branded beverage entity with a portfolio of billion-dollar brands such as ®, Pure Life®, ®, and Deer Park®, alongside premium and enhanced hydration options. As of 2025, Primo Brands is headquartered in , and , employs over 13,000 associates, and manages more than 80 natural springs, conserving over 28,000 acres of to support long-term in its hydration-focused mission.

History

Founding and Early Development

Primo Water Corporation was founded in 2004 by Billy D. Prim, an entrepreneur who had previously built Blue Rhino Corporation, a successful tank business. Inspired by the model of Blue Rhino, Prim established Primo Water to provide convenient access to through a similar system for 5-gallon bottles and self-service refill stations. The company focused on innovative dispensing equipment and solutions for residential and commercial customers, emphasizing sustainability and ease of use. Primo Water went public on November 5, , with an on the Global Market under the PRMW, raising capital to fuel expansion. As part of its early growth , in late , the company acquired certain assets of Store Solutions, LLC, including Culligan's self-serve water refill business, for $105 million in a combination of cash and stock. This acquisition significantly expanded Primo's network of refill stations across the . In March 2011, Primo further entered the Canadian market by acquiring Culligan of Ltd.'s water exchange operations for approximately $5.4 million, enhancing its North American presence. These moves positioned Primo as a leader in the multi-gallon purified water exchange market, with steady growth through partnerships with major retailers to install exchange kiosks and refill stations.

Expansion into Water Business

Prior to its acquisition of Primo Water, Cott Corporation initiated a strategic pivot away from its core carbonated operations toward higher-growth segments like delivery services in 2014, marking the beginning of its transformation into a water-focused company. This shift was catalyzed by the acquisition of DSS Group, Inc., the parent of DS Services of America, for $1.25 billion in December 2014, which introduced and delivery platforms with significant synergies in the and bottled market. The move diversified Cott's portfolio beyond traditional beverages, emphasizing recurring revenue streams from and dispensers, and set the stage for further divestitures to streamline operations. Building on this foundation, Cott expanded its water services internationally through targeted acquisitions in 2016. In January 2016, the company acquired Aquaterra Corporation, Canada's largest direct-to-consumer home and office provider, for C$62 million, enhancing its North American footprint with established and cooler rental services. Later that year, in August 2016, Cott purchased Eden Springs, a leading European supplier of and services, for €470 million, which bolstered its presence across the , , and other markets by integrating sustainable sourcing and networks. These deals solidified Cott's position in the growing European sector, aligning with its refocus on solutions over commoditized sodas. The culmination of this strategic realignment came with the divestiture of non-core assets to sharpen its water-centric identity. In July 2017, Cott announced the sale of its traditional beverage manufacturing business—including carbonated soft drinks—to Refresco Group for $1.25 billion, a transaction that closed in January 2018 and effectively exited the company from large-scale production. To further concentrate on operations, Cott sold its S&D Coffee and Tea subsidiary to Westrock Coffee Company in January 2020 for $405 million on a debt-free, cash-free basis, with the deal closing in February 2020; this move eliminated remaining coffee distractions while retaining synergies from earlier acquisitions. These actions transformed Cott into a pure-play solutions provider by 2020.

Rebranding and Corporate Evolution

In March 2020, Cott Corporation completed its acquisition of Primo Water Corporation for approximately $775 million in cash and stock, marking a pivotal shift toward a focused solutions provider. This transaction integrated Primo's expertise in water dispensers and self-service refill stations with Cott's established delivery operations, primarily through its DS Services subsidiary. Following the acquisition, Cott rebranded entirely to Primo Water Corporation, aligning its identity with the growing demand for sustainable hydration options and streamlining its portfolio by divesting non-core assets like its and business. The were relocated to , at 1150 Assembly Drive, Suite 800, to centralize leadership and operations in a key U.S. market. Leadership transitioned with Tom Harrington serving as , bringing continuity from Cott's executive team, while Billy D. Prim, founder of the original Primo Water, joined as Executive Chairman of the Board. The post-acquisition period emphasized operational , unifying leasing, refill networks, and direct-to-consumer delivery services across to enhance efficiency and customer reach. This restructuring supported a pure-play focus on , amid challenges like the , which accelerated demand for contactless hydration solutions. For the ending January 2, 2021, Primo Water reported consolidated of $1.953 billion, reflecting an 8.8% increase from the prior year driven by the acquisition synergies, alongside a net loss attributable to the company of $131.7 million due to integration costs and impairments, and a workforce of approximately 10,400 employees. On November 8, 2024, Primo Water Corporation merged with (formerly ) to form Primo Brands Corporation, creating a leading n branded beverage company with an expanded portfolio including major spring water brands such as , Pure Life, , and Deer Park. The merger combined Primo's water exchange and refill networks with BlueTriton's direct delivery and premium hydration offerings, resulting in a vertically integrated entity managing over 80 natural springs and employing more than 13,000 associates as of late 2024. Headquartered in , and , Primo Brands continued to prioritize sustainability, including watershed conservation across more than 28,000 acres.

Operations

Products and Services

Primo Brands specializes in providing purified hydration solutions through multi-gallon delivered in reusable 3- and 5-gallon containers designed for home and office use, which helps reduce single-use plastic waste by replacing up to 1,500 disposable bottles per 5-gallon jug. The company's portfolio includes brands such as ®, Pure Life®, Arrowhead®, Deer Park®, Primo ®, and others, offering various types including purified, spring, distilled, and pH+-enhanced alkaline . Purified waters are sourced and processed via a multi-step that includes and filtration, with removing up to 99% of lead and ensuring compliance with FDA and EPA standards for . Spring brands are sourced from natural springs with quality testing but without intensive purification processes like . All products are bottled at advanced facilities to maintain freshness and safety. Complementing its bottled offerings, Primo Brands provides a range of water dispensers tailored for convenience and functionality, such as top-loading and bottom-loading models that dispense , , and room-temperature . These units feature user-friendly designs like child-safety latches, LED nightlights, and pet-friendly spouts, with options for , floor-standing, or under-sink installations suitable for residential and settings. Additionally, self-service refill stations allow customers to fill their own 1-, 3-, or 5-gallon bottles with at over 23,000 retail locations across the and . The company's filtration systems enable direct purification of tap water at the point of use, offering and technologies in floor, countertop, and under-sink configurations, with professional installation and ongoing maintenance services included. systems filter particles down to 0.0001 microns, removing sediments, , , viruses, and other impurities to achieve 90-95% contaminant reduction, surpassing basic methods. and carbon pre-filters further protect these systems by capturing larger particles (5-50 microns) and adsorbing odors and tastes. Primo Brands's service models emphasize accessibility and , including delivery schedules for homes with automatic bottle exchanges and empty pickups, retail partnerships for bottle exchange and refill programs at convenience stores and , and B2B solutions for office installations featuring customized dispenser setups and breakroom supplies. These models support eco-friendly practices, such as a closed-loop program for reusable bottles, diverting millions of pounds of plastic from landfills annually.

Market Presence and Distribution

Primo Brands, formerly known as Primo Water, maintains its primary operations across , with distribution and market presence spanning the and as of 2025, following the completion of its international divestiture program that exited businesses in , the , and . The company covers every U.S. state and operates coast-to-coast, serving a broad customer base through direct delivery to homes and businesses, while reaching 90% of the U.S. population. The distribution network is vertically integrated, employing over 13,000 associates, including route sales personnel, to manage home and office deliveries via a dedicated fleet, alongside channels that supply more than 200,000 outlets nationwide. Key components include the Direct Delivery segment for and coolers to residential and commercial customers, the program available at approximately 26,500 locations for pre-filled reusable bottles, and the Refill business with 23,500 self-service stations, often partnered with major retailers like to facilitate convenient access. These channels ensure efficient and broad , supporting annual service to millions of consumers in diverse settings such as hotels, hospitals, and food service accounts. Sustainability efforts underpin the sourcing and distribution strategy, with the company managing over 80 natural springs and conserving more than 28,000 acres of land across the U.S. and to protect watersheds and promote responsible . These initiatives, which include habitat restoration and enhancement projects, form the foundation for long-term operational , even as post-merger integrations have amplified their scale in 2025.

Acquisitions and Mergers

Key Pre-2020 Acquisitions

In July 2010, Primo Water Corporation acquired the North American water refill business from International Company for $105 million in cash and stock, establishing a foundational water vending model that expanded access to through retail locations. This transaction included over 1,100 water vending machines and related infrastructure, enabling Primo to scale its hydration solutions across the U.S. and . Later that year, in August 2010, Cott Corporation, which later integrated with , acquired Cliffstar LLC for approximately $517 million, bringing synergies in juice production and to bolster Primo's beverage . Cliffstar, a leading private-label manufacturer with facilities in , enhanced Primo's capabilities in non-carbonated beverages, including complementary -based products, and added significant manufacturing capacity serving major retailers. The deal supported by combining Cliffstar's expertise with Primo's emerging focus. In May 2014, Cott's U.K. and business unit acquired Aimia Foods (Holdings) Limited for about $80 million upfront, plus adjustments and deferred payments, marking an entry into hot beverage and markets. Aimia, based in , U.K., specialized in producing and distributing powdered beverages like , , and for foodservice and retail, allowing Primo to diversify into tea-infused products and expand distribution networks in the U.K., , and . In December 2014, Cott acquired DS Services of America (through its parent DSS Group, Inc.) for approximately $1.25 billion, significantly expanding its water and delivery operations across the U.S. This acquisition positioned Cott as a leader in and services, adding a robust network of delivery routes and filtration systems that became integral to Water's subsequent growth in solutions. In January 2016, Cott acquired Aquaterra Corporation, Canada's largest provider of and services, for approximately C$62 million. Operating under the Canadian Springs brand, Aquaterra strengthened Primo's presence in the Canadian market, enhancing delivery capabilities and access to regional water sources for residential and commercial customers. By October 2018, Cott, through its subsidiary DS Services, acquired The Mountain Valley Spring Water Company for $78.5 million in cash, incorporating a historic premium spring water brand into Primo's offerings. Sourced from the in since 1871, Mountain Valley added natural, mineral-rich to Primo's lineup, targeting upscale consumers and enhancing brand prestige in the premium segment without altering the source's traditional glass-bottling practices.

Recent Mergers and Integrations

On June 17, 2024, Primo Water Corporation announced its merger with , Inc., in an all-stock transaction valued at approximately $6.5 billion in combined net revenue, positioning the new entity as a leading North American pure-play healthy hydration company. The deal aimed to leverage complementary portfolios in , water dispensers, and services, enhancing scale in production, distribution, and sustainability initiatives across the continent. The merger was successfully completed on November 8, 2024, resulting in the formation of Primo Brands Corporation, which began trading on the under the ticker symbol PRMB starting November 11, 2024. Robbert Rietbroek served as of the combined company at closing. In November 2025, Eric Foss was appointed as CEO and Chairman, continuing oversight of the initial integration efforts focused on operational efficiencies and market expansion. This transaction marked a significant structural evolution for Primo Water, shifting from a regional player to a dominant force in the hydration industry. The merger is projected to deliver $200 million in cost synergies in 2025, with a total opportunity of $300 million by the end of 2026, primarily through optimizations, shared manufacturing facilities, and streamlined administrative functions in the healthy hydration segment. Integration of BlueTriton's key brands, including and Pure Life, has expanded Primo Brands' portfolio to nearly two dozen iconic labels, supporting a annual revenue of about $6.8 billion as reported for full-year 2024. These synergies underscore the strategic alignment, enabling enhanced innovation in and broader access to premium solutions by early 2025.

References

  1. [1]
    About Primo Brands
    Primo Brands is a leading North American branded beverage company focused on healthy hydration, delivering responsibly sourced diversified offerings.
  2. [2]
    Governance - Board of Directors - Person Details - Primo Brands
    Person Details · Founder of legacy Primo Water Corporation (2004) · Founder and Chief Executive Officer, Blue Rhino Corporation (1994 – 2004).
  3. [3]
    [PDF] Primo Water Corporation (TSX / NYSE: PRMW) - SEC.gov
    Apr 3, 2023 · Billy Prim founded Legacy Primo in 2004 and served on that board since inception and served as Executive Chairman from June. 2017 until the ...
  4. [4]
    Cott Announces Completion of Acquisition of Primo Water ...
    Mar 2, 2020 · Following Purchaser's acceptance of the Primo shares tendered in the exchange offer, Cott completed the acquisition of Primo on March 2, 2020 ...
  5. [5]
    Cott Announces the Acquisition of Primo Water Corporation and ...
    Jan 13, 2020 · The transaction, which values Primo at approximately $775 million, was unanimously approved by both the Cott and Primo Boards of Directors.
  6. [6]
    PRIMO BRANDS CORPORATION ANNOUNCES SUCCESSFUL ...
    Nov 8, 2024 · Primo Brands sources from numerous springs and manages water resources for long-term sustainability, helping to protect more than 27,000 acres ...<|control11|><|separator|>
  7. [7]
    Cott Corporation - Company-Histories.com
    1923: Cott Beverage Corporation is founded in Port Chester, New York, by Solomon and Harry Cott. 1952: Montreal clothier Harry Pencer begins importing Cott ...
  8. [8]
  9. [9]
    Cott Corporation - Grocery.com
    Jan 24, 2017 · The company was then owned by Harry Pencer. By 1955, Pencer founded Cott Beverages Ltd., which bottled beverage products in Quebec.
  10. [10]
    Cott Corporation Open the Market - Canada Newswire
    May 2, 2016 · Cott Corporation commenced trading on Toronto Stock Exchange on December 10, 1986.Missing: initial date
  11. [11]
    Cott Announces Transformative Agreement To Further Diversify ...
    TORONTO, ON and TAMPA, FL--(Marketwired - Nov 6, 2014) - Cott Corporation (NYSE: COT) (TSX: BCB) today announced that it has entered into a definitive ...
  12. [12]
    DS Services Announces Closing Of Acquisition Of Its Parent ...
    Dec 12, 2014 · The previously announced acquisition of its sole stockholder and parent company, DSS Group, Inc., by Cott Corporation (NYSE:COT; TSX:BCB) for approximately $1. ...
  13. [13]
    Cott Announces Closing of Aquaterra Acquisition - Yahoo Finance
    Cott Corporation announced today that it has closed its previously announced acquisition of Aquaterra, Canada's oldest and largest direct-to-consumer home ...
  14. [14]
    EX-99.6 - SEC.gov
    ... 2016. Aquaterra Acquisition. On January 4, 2016, Cott acquired Aquaterra Corporation (“Aquaterra”), Canada's oldest and largest direct-to-consumer home and ...
  15. [15]
    Cott Announces Closing of Eden Springs Acquisition - Yahoo Finance
    Aug 2, 2016 · Cott Corporation (NYSE: COT) (TSX: BCB) announced today that it has closed its previously announced acquisition of Eden Springs (Eden).
  16. [16]
    EX-99.1 - SEC.gov
    Cott Corporation (NYSE:COT; TSX:BCB) today announced that it has entered into a definitive share purchase agreement to acquire Eden Springs (Eden).
  17. [17]
    Cott Announces Agreement to Sell Its Traditional Beverage ...
    Jul 25, 2017 · Cott Corporation (NYSE:COT; TSX:BCB) today announced that it has entered into a definitive agreement to sell its traditional beverage manufacturing business.Missing: 2014 refocus
  18. [18]
    Cott Announces Closing of the Sale of Its Traditional Beverage ...
    Jan 30, 2018 · Cott Corporation (NYSE:COT; TSX:BCB) today announced that it has closed the previously announced sale of its traditional beverage manufacturing business.Missing: decision carbonated 2014
  19. [19]
    Cott Announces Closing of the Sale of S&D Coffee and Tea to ...
    Feb 28, 2020 · It has closed the previously announced sale of S&D Coffee and Tea (S&D) to Westrock Coffee Company, LLC (Westrock Coffee) for $405 million on a debt free and ...
  20. [20]
    Cott sells S&D Coffee & Tea to Westrock Coffee for $405 million
    Jan 31, 2020 · Cott has entered into a definitive agreement to sell S&D Coffee & Tea to Westrock Coffee for $405 million on a debt-free and cash-free basis.
  21. [21]
    Cott Announces the Acquisition of Primo Water Corporation
    Jan 13, 2020 · Pursuant to the terms of the merger agreement, Billy D. Prim and Susan E. Cates, current members of Primo's board of directors, will join Cott's ...
  22. [22]
    Primo Water Corp Locations - Headquarters & Offices – GlobalData
    Head Office ; Country. United States of America ; Address. 1150 Assembly Drive, Suite 800, Tampa, Florida, 33607 ; Phone Number. 1 813 5448515 ; Website. ir.
  23. [23]
    [PDF] Primo-Water-Corporation-Annual-Report-2020.pdf
    On March 2, 2020, Cott Corporation completed the acquisition of Primo Water Corporation. (''Legacy Primo'' and such transaction, the ''Legacy Primo Acquisition' ...
  24. [24]
    Primo Water: Water Delivery for Your Home & Business
    Primo Water provides high-quality water delivery, including purified, spring, and distilled water, with doorstep delivery and empties picked up.Customer Service · Water Delivery Service · Find water near you · Exchange
  25. [25]
    Shop All Water Dispensers | Primo Brands™
    Shop premium water dispensers from Primo Brands™ designed to meet the hydration needs of workplaces and businesses.
  26. [26]
    Primo Bottom Loading Water Dispenser Rental
    Free delivery 30-day returnsPrimo Water's Bottom Loading Water Dispenser offers instant access to ice cold and piping hot purified water with the touch of a button.<|control11|><|separator|>
  27. [27]
    Find Primo Water® Refill Locations Near You
    Water Filtration Systems. Purify your tap water directly with an advanced filtration system, quickly installed by our filtration specialists. Learn More ...
  28. [28]
    Water Filtration Systems & Dispensers | Primo Water Services
    We offer two types of filtration solutions: activated carbon and reverse osmosis, in floor, counter-top and under-the-sink models.
  29. [29]
    Filters and Membranes and Ions – Oh my! | Primo Water
    Jun 21, 2018 · While our sediment filters will remove particles of 5 – 50 microns, the RO membrane will filter down to a staggering 0.0001 microns. So, after ...
  30. [30]
    The Important Difference Between Filtered Water and Purified Water
    Apr 19, 2019 · Unlike filters, water purification systems remove 90-95% of all contaminants in water, including bacteria and viruses, to produce water that's better and safer ...
  31. [31]
  32. [32]
  33. [33]
  34. [34]
  35. [35]
    Water Delivery Across the U.S. & Canada | About Primo Water
    We reach our customers where they live, work, and shop, providing direct delivery to more than 1.8 million homes and businesses, covering 90% of the U.S. ...Primo · Our Brands · Primo Water Quality · Primo Plus Alkaline WaterMissing: households | Show results with:households
  36. [36]
  37. [37]
    Primo Brands Named to Newsweek's America's Greenest ...
    Oct 23, 2025 · Primo Brands operates a vertically integrated coast-to-coast network that distributes its brands to more than 200,000 retail outlets, as well as ...Missing: employees fleet
  38. [38]
  39. [39]
    Sustainability - Primo Brands
    Primo Brands is committed to sustainability, particularly in water use, packaging, and climate initiatives in the communities where we operate.Missing: employees retail
  40. [40]
    W-S' Primo Water grows market with Culligan purchase
    Jul 26, 2010 · ... purchase of the self-service water vending business of Culligan International. The acquisition will cost Primo $105 million, or more than ...
  41. [41]
    [PDF] Primo Water Corporation - Stifel
    May 1, 2018 · Culligan Refill Business for a total purchase price of $105.0 million consisting of: • a cash payment of $60.0 million; and. • the issuance ...
  42. [42]
    cott corporation announces business combination with cliffstar ...
    Both the financing and the acquisition transactions are expected to close in the third quarter of 2010. Expected Benefits of the Transaction.Missing: Primo Water
  43. [43]
    Great Range Capital Announces Sale of Mountain Valley Spring Water
    Oct 16, 2018 · Cott Corporation acquires The Mountain Valley Spring Water Co. for ... carbonated soft drinks (38.5 gallons per capita) for the first time.
  44. [44]
    Cott Announces U.K. Business Unit's Acquisition of Aimia Foods
    May 30, 2014 · Cott Corporation today announced that its United Kingdom / Europe Business Unit has acquired all subsidiary companies of Aimia Foods Limited ...Missing: Primo Water
  45. [45]
    Cott Beverages Acquires Aimia Foods for $80m
    Jun 2, 2014 · Cott Beverages Acquires Aimia Foods for $80m ... 02 June 2014 --- UK beverage supplier Aimia Foods has been sold to Canadian group Cott Beverages ...
  46. [46]
    Publicly-traded beverage company acquires Hot Springs-based ...
    Oct 15, 2018 · International beverage distributor Cott Corp. acquired Hot Springs-based Mountain Valley Spring Co. on Monday (Oct. 15) in a $78.5 million cash deal from Great ...
  47. [47]
    After $78.5M sale, Mountain Valley water company to maintain ...
    Oct 18, 2018 · Charles H. Brown said it's “business as usual” after the $78.5 million acquisition of Mountain Valley Spring Co. LLC by DS Services, a ...
  48. [48]
    Primo Water and BlueTriton enter into merger agreement - Reuters
    Jun 17, 2024 · The merged company will have a combined net revenue of $6.5 billion and adjusted earnings before interest, tax, depreciation, and amortization ( ...<|control11|><|separator|>
  49. [49]
    Primo Water and BlueTriton Agree to Merge, Creating a Leading ...
    Jun 17, 2024 · The Transaction is expected to present an estimated run-rate cost synergies opportunity of approximately $200 million, which the companies ...
  50. [50]
    [PDF] 2024 Primo Brands Corporation Annual Report - SEC.gov
    Feb 27, 2025 · In June, Primo Water and BlueTriton Brands announced a merger of equals, creating a leading US beverage company—the #1 branded bottled water ...
  51. [51]
    Primo, Poland Spring owner BlueTriton agree to water merger
    Jun 17, 2024 · The new firm will own nearly two dozen water brands, including Pure Life and Poland Springs which are each $1 billion-plus products.
  52. [52]
    Primo Brands Reports Full-Year and Fourth Quarter 2024 Results
    Feb 20, 2025 · Q4 2024 Combined Net Sales were $1.609 billion, an increase of 5.5% from the year-ago period, primarily driven by volume gains of 4.4%. Organic contribution ...