Get the latest local business news delivered FREE to your inbox weekly. 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 will present at the 2023 Raymond James 44th Annual Institutional Investors Conference on Monday, March . Cott Corp., operating out of Tampa, Fla., completed its $775 million purchase of Primo of Winston-Salem in March 2020, keeping the Primo corporate name and brand. [14], In January 2020, Cott sold S&D Coffee and Tea to Westrock Coffee Company, LLC for US$405 million. Forward-looking statements involve inherent risks and uncertainties and the Company cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. Aug 11, 2022. 9,230 Employees . I am excited, as the acquisition of Primo and planned sale of S&D will result in a pure-play water company that increases top-line growth and margins and drives long-term value creation for our shareholders. Cott is a pure-play water solutions provider with a leading volume-based national presence in the North American and European home and office delivery industry for bottled water, a top five position across point of use or filtration within our 21-country footprint as well as leading positions in water dispensers, purified bottled water, and self-service refill drinking water in the U.S. and Canada. The consummation of the exchange offer is subject to various conditions, including a minimum tender of a majority of outstanding shares of Primo common stock and other customary conditions. TAMPA, Fla., March 17, 2023 /PRNewswire/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company . Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. Primo Water is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.2 billion in annual revenue. Primo Water's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Cott Beverage Corporation was founded in 1923 by Solomon Cott, a Polish immigrant, with his sons Harry, Barney, Jack and Albert in Port Chester, New York. The forward looking statements in this press release include, but are not limited to, statements related to the ability of the parties to consummate the proposed transactions on a timely basis or at all and the satisfaction of the conditions precedent to the consummation of the proposed transactions (including a sufficient number of Primo shares being validly tendered into the exchange offer to meet the minimum condition), the completion of the anticipated financing of the transaction on a timely basis if at all and on the terms currently proposed, the anticipated timing of the proposed transactions, the expectations in respect of the financial profile of the combined company and expected synergies associated with the transactions, including the expected synergies outlined in this press release, and any contribution of Primos acquisition to Cotts performance, the risk of litigation and regulatory action related to the proposed transaction, and the potential impact the acquisition will have on Primo or Cott and other matters related to either or both of them. Enhance topline growth and adjusted EBITDA margin. As previously disclosed, Stephen Halperin is retiring from the Board at the Annual Meeting as a result of having reached Primo Water's mandatory retirement age of 73. SHAREOWNERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING BLUE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. 3 or 5-gallon pre-filled water bottles ready to grab or exchange at the store. Find the latest Primo Water Corporation (PRMW) stock quote, history, news and other vital information to help you with your stock trading and investing. Email notifications are only sent once a day, and only if there are new matching items. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws conveying management's expectations as to the future based on plans, estimates and projections at the time the Company makes the statements. from 8 AM - 9 PM ET. Primo Water operates largely under a recurring revenue model in the large format water category (defined as 3 gallons or greater). Legion Not Entitled to Nominate Board Candidates for Primo Water's 2023 Annual Meeting. Cott to Rebrand its Corporate Name to Primo Water Corporation and Assume the Ticker PRMW on the NYSE and TSX. Provide cost synergies of approximately $35 million over a three-year period resulting in a post synergy multiple of 8.4x 2020E adjusted EBITDA. TAMPA, FL, March 2, 2020 /PRNewswire/ -Cott Corporation (NYSE:COT; TSX:BCB) (the "Company" or "Cott"), today announced the completion of the acquisition of Primo Water Corporation ("Primo"), a leading provider of water dispensers, purified bottled water, and self-service refill drinking water in the U.S. and Canada. The razor in Primo Water's revenue model is its industry leading line-up of innovative water dispensers, which are sold through approximately 10,000 retail locations and online at various price points. 2023 Primo Water Corporation. The Notice contains a number of other omissions that fail to meet the requirements set forth in the Company's Bylaws. Get your fill of Primo water whenever you need it at a Primo Water Refill Station. Through its Water Exchange business, customers visit retail locations and purchase a pre-filled bottle of water. Goldman Sachs acted as financial advisor to Primo and K&L Gates LLP provided legal counsel to Primo. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored water, filtration equipment, and coffee. Mr. Foss brings decades of experience as a Chairman, CEO and executive officer of leading route-based businesses and beverage companies, with a proven track record of expanding scale, improving margins and driving consistent earnings growth. Primo Water also offers water filtration units across its 21-country footprint. The foregoing list of factors is not exhaustive. [8] Eight months later, Cott acquired Eden Springs, a European water and coffee deliverer, for approximately 470 million,[9] and premium coffee roaster S&D Coffee and Tea, for approximately $355 million. As a part of the transaction, Cott will change its name to Primo Water Corporation and its common shares will trade under the ticker PRMW on the NYSE and the TSX. Primo is North America's leading single source provider of water dispensers, multi-gallon purified bottled water, and self-service refill drinking water. Brings Broad-Based Leadership and Experience Running Global, Scale Beverage and Route-Based Businesses. Primo operates largely under a . A slide presentation and live audio webcast will be available through Cotts website at http://www.cott.com. Presence; Earnings, Excluding One-Time Gain, Triple In The 7th Profitable Quarter, "Cott Announces U.K. Business Unit's Acquisition of Aimia Foods", "Cott Announces Closing of DS Services Acquisition", "Cott Announces Closing of Aquaterra Acquisition", "Eden Springs to be acquired by Cott Corporation for 470 ($525) million", "Cott Announces Closing of S&D Acquisition and Date for Modeling Conference Call", "Cott Corp. sells beverage manufacturing business for $1.25 billion", "Refresco completes acquisition of Cott's bottling activities", "Cott acquires Mountain Valley Spring Company", "Cott Announces the Sale of its Soft Drink Concentrate Production Business and RCI International Division to Refresco in an All-Cash Transaction", "Cott Announces Agreement to Sell S&D Coffee & Tea to Westrock Coffee in an All-Cash Transaction", "Cott Announces the Acquisition of Primo Water Corporation and Continues its Transition Into a Pure-Play Water Solutions Provider", "Cott Announces Completion of Acquisition of Primo Water Corporation and With Closing the Sale of S&D Coffee and Tea to Westrock Coffee on February 28th Transitions Into a Pure-Play Water Solutions Provider", "Primo Water Corp. Acquires Highland Mountain Water", https://en.wikipedia.org/w/index.php?title=Primo_Water&oldid=1126556548, Water, water dispensers, refill machines, filtration equipment. This business strategy is commonly referred to as "razor-razorblade" because the initial sale of a product creates a base of users who frequently purchase complementary consumable products. Inspire healthier lives - with water your way. The foregoing list of factors is not exhaustive. from 8 AM - 9 PM ET. See Investor Survey Results, This Companys Unique Tech Gains Traction Across Multiple Segments of the Aviation Sector, NexOptic Technology Corp. Signs MOU with IntroMedic, A Global Capsule Endoscopic Imaging Corporation, Nutrition Co. Set for 2023 Revenue Growth after Tripling N.American Store Count to 11,000 Doors, EnWave (TSXV:ENW) signs R&D license agreement with Danish Technological Institute, Clearmind (CSE:CMND) submits FDA application for its CMND-100 treating alcohol use disorder, POET Technologies (TSXV:PTK) (NASDAQ:POET) Delivers First-of-its-Kind Innovation at Industry Conference, From humble beginnings to a national brand. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the definitive proxy statement and other materials to be filed with the SEC in connection with the Annual Meeting. ABOUT PRIMO WATER CORPORATION. Primo Water Corporation to Present at the Raymond James 44th Annual Institutional Investors Conference. , . He was chief executive of Pepsi Beverages and chairman and chief executive of Pepsi Bottling. Shareowners will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC and Canadian securities regulators at no charge at the SEC's website at www.sec.gov and on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. Monday - Friday, 8:00AM - 9:00PM ET. Lewisville just spent $2M to buy a small lot. Through its Water Direct business, Primo Water delivers sustainable hydration solutions across its 21-country footprint direct to customers, whether at home or to businesses. Factors that could cause actual results to differ materially from those described in this press release include, among others: the degree of success of Cotts intended exploration of strategic alternatives for Cotts S&D Coffee and Tea Business; changes in expectations as to the closing of the transaction and the timing thereof if at all, including timing and changes in the method of financing the transactions; changes in estimates of future earnings and cash flows; expected synergies and cost savings are not achieved or achieved at a slower pace than expected; integration problems, delays or other related costs; retention of customers and suppliers; the cost of capital necessary to finance the transaction; the satisfaction of the conditions precedent to the consummation of the proposed transactions (including a sufficient number of Primo shares being validly tendered into the exchange offer to meet the minimum condition); the negative effects of the announcement or the consummation of the proposed transactions on the market price of Cotts common stock or on Cotts operating results; the risk of litigation and regulatory action related to the proposed transaction; unanticipated changes in laws, regulations, or other industry standards affecting the companies and other risks and important factors contained and identified in Cotts and Primos filings with the SEC, including their respective Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Location: Chicago, IL Analicia Arreola 6055 S. Harlem Ave Chicago , IL 60638 United States ===== . Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company" or "Primo Water"), a leading provider of sustainable drinking water solutions in North America and Europe, today announced that Eric . Brings Broad-Based Leadership and Experience Running Global, Scale Beverage and Route-Based Businesses. The firm's water solutions ecosystem is . Primo Water Corporation (formerly Cott Corporation) is an American-Canadian water company offering multi-gallon bottled water, water dispensers, self-service refill water machines, and water filtration appliances. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, Winston-Salem strip shopping center sells for $1.91 million, Krispy Kreme backs out of Winston-Salem expansion plan, More than $1M in drugs and money seized, Winston-Salem man faces charges, Truist executives gain significant boosts in 2022 compensation. Neither Cott nor Primo undertakes to update or revise any of these statements in light of new information or future events, except as expressly required by applicable law. There was a problem saving your notification. Primo Water'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. The Company does not, except as expressly required by applicable law, undertake to update or revise any of these statements in light of new information or future events. The company offers its products under the Primo . Expand channel diversification and consumer reach with the ability to offer Primos products and services across Cotts 21-country footprint as well as increase route density and geographic footprint in refill/filtration. Primo is a leading pure-play water solutions provider in North America, Europe and Israel focused on healthy and sustainable hydration solutions. The razor in Primo Water's revenue model is its industry leading line-up of innovative water dispensers, which are sold through approximately 10,000 retail locations and online at various price points. We wish him all the best in his retirement.". There is no need for shareowners to take any action at this time. Forward-looking statements can otherwise be identified by the use of words such as anticipate, believe, could, estimate, expect, feel, forecast, intend, may, plan, potential, predict, project, seek, should, would, will, and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. This communication relates to a pending business combination between Cott and Primo. As a result of the announcement, Primo will cancel todays attendance at the ICR conference, including their presentation and one on one meetings. PRIMO STOCKHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF PRIMO SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING EXCHANGING THEIR SECURITIES. Primo Water Corporation (formerly Cott Corporation) has leading service-based platforms across 21 countries in North America and Europe as well as over 22,000 retail locations in North America. These items depend on highly variable factors and any such reconciliations would imply a degree of precision that would be confusing or misleading to investors. [10], On January 30, 2018, Cott sold its carbonated soft drinks and juice bottling businesses to Refresco for US$1.25 billion. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Goldman Sachs acted as financial advisor to Primo and K&L Gates LLP provided legal counsel to Primo. But we cant do it alone. TORONTO and TAMPA, Fla. and WINSTON-SALEM, N.C., Jan. 13, 2020 (GLOBE NEWSWIRE) -- Cott Corporation (NYSE:COT; TSX:BCB) (the Company or Cott), today announced that it has entered into a definitive agreement pursuant to which Cott will acquire Primo Water Corporation (Nasdaq:PRMW) (Primo) for $14.00 per share payable in cash and stock (or a combination thereof) at the election of Primos stockholders, subject to the terms of the merger agreement. 2,040 Sq. With respect to our expectations of performance of Primo as it is being integrated, reconciliations of 2020 estimated adjusted EBITDA, earnings accretion and cash on cash IRR are not available, as we are unable to quantify certain amounts that would be required to be included in the relevant GAAP measures without unreasonable effort. Find Now. CONTACT US | EMAIL ALERTS. In 1955, Pencer acquired the Canadian rights to the Cott label and established Cott Beverages (Canada) Ltd., to bottle the Cott line of sodas. Primo Water 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 Water is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.2 billion in annual revenue. [18], Last edited on 10 December 2022, at 00:07, "Primo Water Corporation 2021 Annual Report", History of Cott Corporation FundingUniverse, Cott Corporation Has Acquired Honickman Group's Concord Beverage To Strengthen U.S. The forward looking statements in this press release include, but are not limited to, statements related to the expectations in respect of the financial profile of the combined company and expected synergies associated with the transactions, including any contribution of Primo's acquisition to Cott's performance, and the potential impact the acquisition will have on Primo or Cott and other matters related to either or both of them. The acquisition of Primo and Cotts continued transition into a pure-play water solutions provider is expected to: The acquisition of Primo meets all of our quantitative and qualitative acquisition criteria, and we expect will increase revenue growth and EBITDA margins, be accretive to earnings per share and deliver a cash on cash IRR above our cost of capital, commented Mr. Harrington. Primo Water's Board of Directors made the following statement: Like many public companies, Primo Water's advance notice bylaws require that a shareowner that wishes to nominate candidates for election to the Board provide the Company and its shareowners with proper and accurate notice. Copies of the documents filed with the SEC by Cott will be available free of charge under the heading of the Investor Relations section of Cotts website atwww.cott.com/investor-relations/. What We Stand For; . With the appointment of Mr. Foss, the Board has been temporarily expanded to eleven members. In lieu of their presentation Primo will participate in todays Cott conference call and will reschedule their attendance at the ICR Conference to January 14th where they will be joined by the Cott team for one on one investor meetings. Primo Water's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Primo Water Corporation (formerly Cott Corporation) is an American-Canadian water company offering multi-gallon bottled water, water dispensers, self-service refill water machines, and water filtration appliances. The Company does not, except as expressly required by applicable law, undertake to update or revise any of these statements in light of new information or future events. This enables us to efficiently service residences, businesses, and small and large retailers. Lunar Companies does foundations, slabs, other concrete work, and water/sewer installations . At the time the exchange offer is commenced, Cott and its acquisition subsidiary will file an exchange offer statement on Schedule TO, Cott will file a registration statement on Form S-4 and Primo will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the exchange offer. Primo Water Corporation (Nasdaq: PRMW) is an environmentally and ethically responsible company with the purpose of inspiring healthier lives through better water . Deutsche Bank Securities Inc. acted as financial advisor to Cott and Drinker Biddle & Reath LLP and Goodmans LLP provided legal counsel to Cott. Water operates largely under a recurring revenue model in the large format Water category ( defined as 3 or! At a primo Water is a leading pure-play Water solutions provider in North America, Europe and approximately! 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