Primo Water Corporation Announces Acquisition of Crystal Spring Water Company

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Oct 12, 2022, 06:15 ET

TAMPA, Fla., Oct. 12, 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 substantially all the assets of Crystal Spring Water Company, a bottled water company based in Rhode Island.

Crystal Spring Water Company manufactures and distributes spring water to customers in Rhode Island and Southeastern Massachusetts. The company was founded in 1907 in Middletown Rhode Island. The acquisition will add approximately 2,500 customers to PWNA, strengthening its footprint in the Northeast region.

"Crystal Spring Water Company offers high-quality spring water solutions and delivers superior customer service that aligns with our mission of inspiring healthier lives through water your way," said Tom Harrington, CEO of Primo. "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 $2.1 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 retailers and online at various price points. 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 Water Direct business, Primo delivers sustainable hydration solutions across its 21-country footprint direct to the customer's door, whether at home or to businesses. Through its Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at approximately 14,000 locations, water dispenser sales at approximately 9,000 locations and water refill units at approximately 24,000 locations, respectively. Primo also offers water filtration units across its 21-country footprint.

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.

SOURCE Primo Water Corporation