PRIMO WATER NORTH AMERICA ANNOUNCES LAUNCH OF PRIMO PLUS™ ALKALINE WATER

Rhea-AI Summary

Primo Water Corporation (NYSE: PRMW) announced the launch of its new alkaline water brand, Primo Plus, on January 31, 2022. This product complements Primo's existing portfolio, which includes 12 regional and three national brands, aiming to meet the demand for healthy hydration options. Primo Plus is available in 3-gallon bottles and will be distributed in select locations in Sacramento and Southern California, with further rollout planned throughout Q1 and Q2 of 2022. The company generates approximately $2.0 billion in annual revenue through a recurring revenue model.

Positive

• Launch of Primo Plus alkaline water aimed at health-conscious consumers.
• Expansion of product portfolio to meet growing consumer demand for healthy beverages.
• Initial availability in multiple markets with a planned broader rollout.

Negative

• No specific revenue projections associated with the launch of Primo Plus.
• Potential market risks related to competition in the alkaline water segment.

TAMPA, Fla., Jan. 31, 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 today the launch of its new alkaline water brand, Primo Plus.

Primo Plus alkaline water will complement the existing Primo Water North America portfolio, focused on inspiring consumers to create healthy habits. The existing portfolio includes 12 regional brands and three national brands across the U.S. and Canada which support growing consumer demand for products that enable the adoption of a healthy lifestyle.

"We are excited to introduce Primo Plus alkaline water to the U.S.," said Tom Harrington, CEO of Primo Water Corporation. "We know that health-conscious consumers enjoy alkaline water, and we are confident they will love hydrating with Primo Plus, a zero-calorie drink that is an ideal hydration solution for both adults and children."

Primo Plus alkaline water is available in 3-gallon bottles for home or office delivery, and at select grocery and retail locations through Primo's Water Exchange program. It will be available in Sacramento and Southern California beginning January 31, and in Orlando beginning February 14. Primo Plus alkaline water will roll out to additional markets through the first two quarters of 2022.

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 lineup 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 ensures 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 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 launch of Primo Plus alkaline water 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 Primo Water Corporation launching on January 31, 2022?

Primo Water Corporation is launching its new alkaline water brand, Primo Plus.

Where is Primo Plus alkaline water available initially?

Primo Plus will be available in Sacramento and Southern California starting January 31, 2022.

What is the annual revenue of Primo Water Corporation?

Primo Water Corporation generates approximately $2.0 billion in annual revenue.

What consumer trend does Primo Plus aim to meet?

Primo Plus aims to meet the growing demand for healthy hydration options among consumers.

How will Primo Plus be distributed?

Primo Plus will be available for home or office delivery and at select grocery and retail locations.