On March 2, 2020, Cott Corporation (NYSE: COT) completed its acquisition of Primo Water Corporation (Nasdaq: PRMW), with counsel from our firm. The transaction valued Primo at approximately $775 million and is consistent with Cott’s multiyear strategy of transitioning from a carbonated soft drink manufacturer to a pure-play water solutions provider.
Primo is a leading provider of water dispensers, multigallon purified bottled water and self-service refill drinking water. Cott purchased Primo through an exchange offer.
Cott is rebranding itself as Primo Water Corporation following the acquisition, which adds further density to the distribution platform of Cott’s existing North American business.