Primo Water Corporation, a leading provider of sustainable drinking water solutions in North America, today announced that at a special meeting of shareowners held earlier today, November 4, the company’s shareowners voted to approve the resolutions related to the previously announced business combination transaction with an affiliate of BlueTriton Brands, Inc.
At the Special Meeting, approximately 99.9 percent of the shares voted were voted in favor of the transaction resolution, which represented approximately 89.2 percent of the total outstanding shares of Primo Water as of October 1, 2024, the record date for voting at the Special Meeting.
The company’s full report of voting results will be filed under Primo Water’s SEDAR+ profile at sedarplus.ca and EDGAR on Form 8-K at sec.gov.
The Transaction is expected to close on or about November 8, 2024, subject to final court approval and satisfaction of other customary closing conditions outlined in the Arrangement Agreement and Plan of Merger, dated June 16, 2024, as amended.
In connection with the anticipated closing, the Company announced that it will change its name to Primo Brands Corporation (Primo Brands) and will use the ticker symbol PRMB following the closing.
At closing, Primo Water common shares will be exchanged for Class A common stock of Primo Brands at an exchange ratio of one common share to one share of Class A common stock of Primo Brands.
The Class A common stock of Primo Brands is expected to begin trading on the New York Stock Exchange (NYSE) on Monday, November 11, 2024.
“The decisive 99.9 percent shareowner vote in favor of our pending business combination with BlueTriton Brands underscores the confidence our shareowners have in the combined company’s future,” said Jerry Fowden, chairman of the Board of Primo Water. “We look forward to closing the merger on November 8 and to beginning this next chapter together as Primo Brands.”
Robbert Rietbroek, CEO of Primo Water, added, “With this merger, we will bring together the best of both companies, the power of our teams, premier, sustainably and domestically sourced brands, and our service offerings, to form Primo Brands. This new name reflects our shared vision as a leading North American branded beverage company with a focus on healthy hydration. Together, with an iconic portfolio of brands and operational strength, we believe we are well-positioned to drive growth and deliver long-term value for our stakeholders.”
Image courtesy Primo Water
