Primo Brands announces successful completion of merger
Primo Water, BlueTriton Brands merge to deliver healthy hydration to consumers, businesses
Primo Brands Corp. announced the successful completion of the merger of Primo Water Corp. and an affiliate of BlueTriton Brands Inc., creating Primo Brands, a leading branded beverage company in North America with a focus on healthy hydration.
“I am honored to lead our combined company and our team of world-class associates,” said Robbert Rietbroek, CEO of Primo Brands, in a statement. “Together, we are forming a differentiated leader in branded beverages. With a highly competitive portfolio of brands, a variety of formats and offerings across price points, and a vertically integrated, coast-to-coast manufacturing and distribution network across North America, we believe Primo Brands is strategically positioned to accelerate growth, deliver superior products and services for our customers and consumers, and be a best-in-class U.S. beverage company.
“Primo Brands has an iconic brand portfolio, including billion-dollar, widely recognized brands such as Poland Spring and Pure Life, high-growth premium brands like Saratoga and Mountain Valley, and other valuable brands with significant growth potential,” Rietbroek continued. “Our goal is to drive sustainable, long-term shareholder value creation as we capture transformative operational efficiencies, achieve our synergy goals and deliver strong financial results. I want to thank our talented teams for their dedication and hard work in building our strong momentum.”
Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands, added: “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country. We have a clear strategy to accelerate growth driven by the strong demand for branded beverages and healthy hydration that continues to expand across all high-growth channels, including retail, clubs, restaurants, hospitality, convenience stores, hospitals, schools, offices and more. Importantly, we also continue to strengthen Primo Brands' commitment to sustainability, including through our increasingly environmentally friendly delivery fleet, circular packaging efforts and water stewardship.
“Primo Brands has an exciting future with premium, trusted brands that have a rich American heritage, six of which are more than 100 years old and four that date back to the 1800s, diverse assets and operations, a strong commitment to protecting our environment and communities, and highly engaged associates focused on execution,” Metropoulos continued. “Driving Primo and its differentiated advantages is a highly entrepreneurial and motivated executive team and Board of Directors that foster a positive and rewarding work environment for all of the company’s associates and operate with a highly efficient performance culture. We believe the continued and consistent, multi-year growth across the combined company’s portfolio, together with attractive margins, will continue to drive Primo Brands’ value into the future.”
As previously announced, Rietbroek will serve as CEO, David Hass will serve as chief financial officer and Robert Austin will serve as chief operating officer of Primo Brands.
Primo Brands’ Board of Directors is comprised of the following 14 directors: Metropoulos (Non-Executive Chairman of the Board), Kurtis Barker, Britta Bomhard, Susan Cates, Michael Cramer, Eric Foss, Jerry Fowden, Tony Lee, Billy Prim, Kimberly Reed, Rietbroek, Joseph Rosenberg, Allison Spector and Steven Stanbrook.
Primo Brands will maintain dual headquarters in Tampa, Fla., and Stamford, Conn.
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