PRIMO WATER CORPORATION ANNOUNCES ACQUISITION OF EUREAU SOURCES AND DEFEAUS IN FRANCE

Rhea-AI Summary

Primo Water Corporation (NYSE: PRMW) announced the acquisition of two French companies, Eureau Sources and Defeaus, which specialize in spring water marketing and packaging. Founded in 1996, Eureau Sources is a leader in bottling water in carafes and operates across France. Defeaus, also established in 1996, markets HERMES spring water mainly in the Île-de-France region. This acquisition aligns with Primo's strategy to enhance sustainable water solutions, expanding its footprint in Europe while maintaining product and service continuity for Eureau and Defeaus customers.

Positive

• Acquisition of Eureau Sources and Defeaus enhances market presence in France.
• Strengthens Primo's portfolio in sustainable water solutions.
• Expected to drive revenue growth through expanded customer base.

Negative

• None.

TAMPA, Fla., Sept. 14, 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, announced that Primo Water Europe has acquired Eureau Sources and Defeaus, two French companies specializing in the marketing and packaging of spring water.

• Eureau Sources, founded in 1996, specializes in packaging spring water in 5-gallon returnable bottles for refrigerated water coolers. In 2016, the company became the French leader in bottling water in carafes. Eureau Sources draws water from four sources in the Cantal, Indre et Loire, Oise, and Vaucluse regions to effectively cover the entire French territory.
  
  
• Defeaus was founded in 1996 and has been marketing HERMES spring water since 2015. Located in Hautes-de-France, in the heart of the Oise, the water is bottled on-premise and distributed mainly in the Ile de France region to commercial and residential customers.

"The acquisition of Eureau Sources and Defaus further strengthens Primo's vision to offer sustainable water solutions to customers and consumers across our footprint. Customers will continue to receive products and services from Eureau Sources and Defaus while benefiting from being a part of Primo's global family of brands focused on healthy and sustainable hydration." said Mr. Harrington.

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.

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SOURCE Primo Water Corporation

FAQ

What companies did Primo Water acquire in France?

Primo Water acquired Eureau Sources and Defeaus.

What is the significance of Primo's acquisition of Eureau Sources and Defeaus?

This acquisition strengthens Primo's vision for sustainable water solutions and expands its market presence in Europe.

When was the acquisition of Eureau Sources and Defeaus announced?

The acquisition was announced on September 14, 2022.

How will the acquisition impact Primo Water's operations?

Customers will continue receiving products and services while benefiting from being part of Primo's global family of brands.

What is the market focus of Eureau Sources?

Eureau Sources focuses on packaging spring water in returnable bottles and is a leader in bottling water in carafes in France.