Primo Water Shareowners Approve Controversial Merger with BlueTriton Brands
- During a special meeting on November 4, 2024, shareowners of Primo Water Corporation approved the merger with BlueTriton Brands.
- The merger is anticipated to close on or about November 8, 2024, leading to the new company trading under the name Primo Brands Corporation.
- The merger aims to enhance sustainable drinking water solutions and create a leading brand in the North American beverage market.
On November 4, 2024, in Tampa, Florida, Primo Water Corporation held a special meeting where shareholders overwhelmingly approved its merger with BlueTriton Brands, Inc. Nearly all voting shares, approximately 99.9%, supported the transaction. The merger is expected to close around November 8, 2024, transitioning into a new entity named Primo Brands Corporation, which will start trading on the NYSE as PRMB from November 11. This merger aims to create a leading branded beverage company focusing on healthy hydration. Robbert Rietbroek, the CEO of Primo Water, expressed optimism about combining both companies' strengths during this transition. Both companies have a significant commitment to environmental sustainability, with a focus on water stewardship and safety standards in the bottled water industry. However, potential risks associated with completing the merger include challenges in integrating operations, retaining key personnel, and achieving projected synergies. Stakeholders have been cautioned to consider these risks as the merger approaches its closing date.