Primo Water Corporation Announces Acquisition of Mountain Valley Water Company of Los Angeles, Adding Over 8,000 Customers
TAMPA, Fla., Oct. 13, 2020 /CNW/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) (the "Company" or "Primo"), a leading provider of water direct to consumers and water filtration services in North America and Europe as well as a leading provider of water dispensers, purified bottled water, and self-service refill drinking water in the U.S. and Canada, today announced that Primo Water North America ("Primo NA"), a wholly-owned subsidiary of Primo, has acquired substantially all of the assets of Mountain Valley Water Company of Los Angeles ("MVLA").
MVLA has been a leading provider of high-quality water delivery services to homes and offices in the Los Angeles area since its founding in 1983, and is the largest distributor of Mountain Valley in the U.S. The acquisition will add over 8,000 customers to Primo NA, strengthening its footprint in southern California. Customers of MVLA will continue to be offered Mountain Valley Spring® Water and can also now enjoy Sparkletts®, the Primo water brand in the region, and have the ability to select additional products for their orders, including coffee and tea, sparkling water beverages from Sparkling Ice® as well as other premium water products.
"MVLA shares our focus on offering high-quality products and delivering superior customer service and strengthens our footprint and customer density in southern California," said Dave Muscato, President of Primo NA. "We are excited to become the sole home and office bottled water distributor of our great Mountain Valley spring water product in southern California, and we welcome the Los Angeles Mountain Valley customers and associates to our family."
Mark Scott, President of MVLA, added, "Primo NA is a natural combination for MVLA given our mutual commitment to delivering the highest quality water products centered around natural sources, premier customer service and ecological preservation. I look forward to seeing the combined success of our products and services under Primo's ownership."
For more information on the hydration solutions Primo NA 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 $2.1 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 Water Direct business, Primo delivers sustainable hydration solutions across its 21-country footprint direct to the customer's door, whether at home or to commercial businesses. Through its 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 21-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.
SOURCE Primo Water Corporation
Ryan Coleman, Alpha IR Group, Tel: (312) 445-2862, [email protected]
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