Primo Water Corporation Announces Acquisition of Get Fresh in Poland

Rhea-AI Summary

Primo Water Corporation has acquired Get Fresh, a distributor of water solutions in Poland, enhancing its market presence. This acquisition adds about 20,000 customers to Primo's existing base of over 200,000 in Poland. It aims to leverage Get Fresh's distribution network while maintaining high service quality. CEO Tom Harrington emphasized that this move aligns with Primo's mission to provide sustainable water solutions. The company generates approximately $2.0 billion in annual revenue and operates under a recurring revenue model.

Positive

• Acquisition adds 20,000 customers to existing base of over 200,000 in Poland.
• Strengthens market presence and distribution footprint in a fast-growing region.
• Aligns with the company's mission of providing sustainable water solutions.

Negative

• None.

TAMPA, Fla., Oct. 7, 2021 /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 it has acquired Get Fresh and its brand, Dar Natury, which means gift of nature.  Get Fresh is a leading distributor of water solutions in northern and eastern Poland. 

The acquisition will add approximately 20,000 customers to Primo's extensive footprint in Poland, adding to the existing base of more than 200,000 customers.  The addition of Get Fresh further strengthens Primo's presence in Poland by leveraging its national distribution footprint and strategically positioned production network. Customers of Get Fresh will begin to receive product from our Eden Poland operations while receiving the same high-quality service that they are accustomed to as well as being able to be serviced by a growing platform of products and services.

"Get Fresh offers high-quality water solutions and delivers superior customer service in a way that aligns with our mission of inspiring healthier lives through better quality water," said Tom Harrington, CEO of Primo Water Corporation. "The addition of Get Fresh expands the Primo footprint and customer density in a fast-growing region and furthers our vision of providing pure-play water solutions whenever, wherever and however our customers want them."

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, Europe and Israel and generates approximately $2.0 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 major retailers and online at various price points or leased to customers. 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 market leading Water Direct business, Primo delivers sustainable hydration solutions across its 22-country footprint direct to the customer's door, whether at home or to commercial businesses. Through its market leading Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at over 13,000 locations and water refill units at approximately 22,000 locations, respectively. Primo also offers water filtration units across its 22-country footprint representing a top five position.

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.

Safe Harbor Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 conveying management's expectations as to the future based on plans, estimates and projections at the time Primo makes the statements. Forward-looking statements involve inherent risks and uncertainties and Primo cautions you that several important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include, but are not limited to, statements related to the acquisition of Get Fresh and related matters. The forward-looking statements are based on assumptions regarding management's current plans and estimates. Management believes these assumptions to be reasonable, but there is no assurance that they will prove to be accurate.

Factors that could cause actual results to differ materially from those described in this press release include, among others: risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; the effect of economic, competitive, legal, governmental and technological factors on Primo's business; and the impact of national, regional and global events on our business, including the recent COVID-19 outbreak.

The foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Readers are urged to carefully review and consider the various disclosures, including but not limited to risk factors contained in Primo's Annual Report on Form 10-K and its quarterly reports on Form 10-Q, as well as other filings with the securities commissions. Primo does not undertake to update or revise any of these statements considering new information or future events, except as expressly required by applicable law.

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SOURCE Primo Water Corporation

FAQ

What is the significance of Primo Water's acquisition of Get Fresh?

The acquisition of Get Fresh adds approximately 20,000 customers to Primo's existing customer base in Poland, enhancing its market presence and distribution capabilities.

How will the Get Fresh acquisition impact PRMW's operations?

With the acquisition, PRMW plans to integrate Get Fresh's distribution network while maintaining high-quality service for existing customers.

What are the financial metrics associated with Primo Water's acquisition?

Primo Water generates around $2.0 billion in annual revenue, positioning itself for potential growth through this acquisition.

When was the Get Fresh acquisition announced?

The acquisition of Get Fresh was announced on October 7, 2021.