PRIMO WATER AND BLUETRITON BRANDS ANNOUNCE EXPIRATION OF THE WAITING PERIOD UNDER THE HSR ACT

Core Viewpoint - The expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act is a significant step towards the completion of the all-stock combination of Primo Water Corporation and BlueTriton Brands, Inc., expected to close by the end of 2024, pending other customary closing conditions [1]. Company Overview - Primo Water Corporation is a leading North America-focused provider of water solutions, operating primarily under a recurring revenue model in the large format water category, which includes products of 3 gallons or greater [3]. - The company's business strategy is likened to a "razor-razorblade" model, where the initial sale of water dispensers leads to ongoing purchases of water solutions [3]. - Primo Water's offerings include Water Direct, Water Exchange, and Water Refill, with a significant retail presence across approximately 11,350 locations for dispensers and 17,950 locations for water exchange services [3][4]. BlueTriton Overview - BlueTriton Brands, Inc. is a North American water and beverage company that produces and distributes a variety of spring and purified water brands, including Poland Spring and Deer Park [5]. - The company operates ReadyRefresh, a home and office beverage delivery platform that emphasizes reusable packaging, contributing to sustainability efforts [6]. - BlueTriton manages over 20,000 acres of watershed and has rights to collect water from more than 50 active spring sites, with 30 production facilities across North America [7]. Strategic Importance of the Transaction - The combination of Primo Water and BlueTriton is expected to enhance consumer access to purified and sustainable water solutions, promoting healthier lifestyles while reducing plastic waste [4]. - The transaction is anticipated to create synergies and improve operational efficiencies, although specific details on these benefits are not disclosed [1].