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'@@ -1,4 +1,3 @@ {{short description|Beverage and food service company}} -{{advert|date=August 2018}} {{Infobox company | name = Primo Water Corporation @@ -11,9 +10,7 @@ | founder = | location_city = [[Tampa, Florida|Tampa]], [[Florida]] -| locations = Over 50 manufacturing sites and over 370 branch distribution and warehouse facilities throughout the United States, Canada, Europe and Israel.<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/884713/000119312518064134/d483557d10k.htm#tx483557_4|title=Form 10-K |publisher=Sec.gov |date=30 December 2017 |access-date=2018-04-05}}</ref> | area_served = Worldwide | key_people = Chairman: Jerry Fowden<br />President and CEO: Tom Harrington<br />CFO: Jay Wells -| products = Water, water dispensers, self-service water -refill machines, filtration equipment, and single-use premium water. +| products = Water, water dispensers, refill machines, filtration equipment | services = Home and office bottled water delivery, pre-filled multi-gallon bottled water and self-service water refill available at retail locations, and filtration services. | revenue = {{increase}} [[United States dollar|US$]]1.953 Billion (''Fiscal Year Ended January 2, 2021'')<ref name="AR2021">{{cite web|title=Primo Water Corporation 2021 Annual Report |url=https://primowatercorp.com/app/uploads/2021/03/Primo-Water-Corporation-Annual-Report-2020.pdf |website=primowatercorp.com |date =2 January 2021| access-date=2 September 2021}}</ref> @@ -30,30 +27,21 @@ '''Primo Water Corporation''' (formerly '''Cott Corporation''') is an American-Canadian water company offering multi-gallon bottled water, water dispensers, self-service refill water machines, and water filtration appliances. The company is headquartered in [[Tampa, Florida]], and services residential and commercial customers across the [[United States]], [[Canada]], [[Europe]], and [[Israel]]. -Primo's bottled water brands include Primo, Alhambra, Crystal Rock, Crystal Springs, Mountain Valley, Deep Rock, [[Sparkletts]], Hinckley Springs, Kentwood Springs, Mount Olympus, Nursery Water, Sierra Springs, Canadian Springs, Decantae, Labrador Source and [[Mey Eden|Eden Springs]]. +==Founding== +Cott Beverage Corporation was founded in 1923 by Solomon Cott, a Polish immigrant, with his sons Harry, Barney, Jack and Albert in [[Port Chester, New York]]. Harry Pencer, a clothier from [[Montreal]], [[Quebec]], began to import Cott [[Soft drink|soda]]s into Quebec in 1952. In 1955, Pencer acquired the Canadian rights to the Cott label and established Cott Beverages (Canada) Ltd., to bottle the Cott line of sodas. From 1976 to 1991, Cott expanded its distribution throughout Canada and back into the U.S. and into Europe.<ref>[http://www.fundinguniverse.com/company-histories/Cott-Corporation-Company-History.html History of Cott Corporation – FundingUniverse]. Fundinguniverse.com. Retrieved on July 24, 2012.</ref> In 1969, the name was changed to Cott Beverages Ltd., and in 1991 to Cott Corporation.<ref>{{cite web |title=FORM 10-K |url=http://markets.financialcontent.com/stocks/action/getedgarwindow?accesscode=95014401003715 |author=Cott Corporation |date=March 7, 2001 |access-date=September 16, 2011|format=filing for the [[United States Securities and Exchange Commission|SEC]]}}</ref> -In March 2020, Quebec-based Cott acquired Florida-based Primo Water Corporation and changed its name to '''Primo Water Corporation''' and changed its ticker symbols to {{NYSE|PRMW}} and {{TSX|PRMW}}.<ref>{{cite web|url=https://primowatercorp.com/article/cott-announces-completion-of-acquisition-of-primo-water-corporation-and-with-closing-the-sale-of-sd-coffee-and-tea-to-westrock-coffee-on-february-28th-transitions-into-a-pure-play-water-solutions/|title=Press Release|date=2 March 2020|access-date=3 March 2020}}</ref> +== Acquisitions == +In October 2000, Concord Beverages, with its Vintage brand [[Carbonated water|seltzer water,]] was acquired from Honickman Group.<ref>[http://findarticles.com/p/articles/mi_m0EIN/is_2000_Oct_18/ai_66198037 Cott Corporation Has Acquired Honickman Group's Concord Beverage To Strengthen U.S. Presence; Earnings, Excluding One-Time Gain, Triple In The 7th Profitable Quarter]. Findarticles.com. Retrieved on July 24, 2012.</ref> In July 2010, Cott announced its acquisition of [[Cliffstar]] Corporation, a US supplier of store-supplied and made juice beverages.<ref>{{cite news| url=https://www.thestar.com/business/article/833697--analyst-applauds-cott-s-acquisition | location=Toronto | work=The Star | title=Analyst applauds Cott's acquisition | first=David | last=Friend | date=July 8, 2010}}</ref> -==History== -=== 1923-2013: Founding and early history === -Cott Beverage Corporation was founded in 1923 by Solomon Cott, a Polish immigrant, with his sons Harry, Barney, Jack and Albert in [[Port Chester, New York]]. Harry Pencer, a clothier from [[Montreal]], [[Quebec]], began to import Cott [[Soft drink|soda]]s into Quebec in 1952. In 1955, Pencer acquired the Canadian rights to the Cott label and established Cott Beverages (Canada) Ltd., to bottle the Cott line of sodas. From 1976 to 1991, Cott expanded its distribution throughout Canada and back into the U.S. and into Europe.<ref>[http://www.fundinguniverse.com/company-histories/Cott-Corporation-Company-History.html History of Cott Corporation – FundingUniverse]. Fundinguniverse.com. Retrieved on July 24, 2012.</ref> In 1969, the name was changed to Cott Beverages Ltd., and in 1991 to Cott Corporation.<ref>{{cite web |title=FORM 10-K |url=http://markets.financialcontent.com/stocks/action/getedgarwindow?accesscode=95014401003715 |author=Cott Corporation |date=March 7, 2001 |access-date=September 16, 2011|format=filing for the [[United States Securities and Exchange Commission|SEC]]}}</ref> In October 2000, Concord Beverages, with its Vintage brand seltzer water, was acquired from Honickman Group.<ref>[http://findarticles.com/p/articles/mi_m0EIN/is_2000_Oct_18/ai_66198037 Cott Corporation Has Acquired Honickman Group's Concord Beverage To Strengthen U.S. Presence; Earnings, Excluding One-Time Gain, Triple In The 7th Profitable Quarter]. Findarticles.com. Retrieved on July 24, 2012.</ref> +Beginning in 2014, Cott expanded via acquisitions predominately in the bottled water industry and exited the carbonated beverages business. In May 2014, Cott completed the acquisition of Aimia Foods (Holdings) Limited, a privately held producer and distributor of hot chocolate, coffee and powdered beverages, hot and cold cereal products located in [[Merseyside]], [[United Kingdom]].<ref>{{cite press release | publisher=Marketwired| date=30 May 2014| title=Cott Announces U.K. Business Unit's Acquisition of Aimia Foods | url=http://www.marketwired.com/press-release/cott-announces-uk-business-units-acquisition-of-aimia-foods-nyse-cot-1915642.htm}}</ref> In December 2014, Cott completed the acquisition of DSS Group, Inc. a bottled water and coffee direct-to-consumer home and office delivery services provider in the United States. The aggregate consideration was approximately $1.25 billion.<ref>{{cite press release | publisher=Marketwired| date=12 December 2014| title=Cott Announces Closing of DS Services Acquisition | url=http://www.marketwired.com/press-release/cott-announces-closing-of-ds-services-acquisition-nyse-cot-1976576.htm|archive-url=https://web.archive.org/web/20150703064240/http://www.marketwired.com/press-release/cott-announces-closing-of-ds-services-acquisition-nyse-cot-1976576.htm|archive-date=2015-07-03|url-status=dead|access-date=2019-09-14}}</ref> -In July 2010, Cott announced its acquisition of [[Cliffstar]] Corporation, a US supplier of store-supplied and made juice beverages.<ref>{{cite news| url=https://www.thestar.com/business/article/833697--analyst-applauds-cott-s-acquisition | location=Toronto | work=The Star | title=Analyst applauds Cott's acquisition | first=David | last=Friend | date=July 8, 2010}}</ref> +In January 2016, Cott completed the acquisition of Aquaterra, a Canadian bottled water and coffee delivery services provider, for approximately C$62 million.<ref>{{cite press release | publisher=Marketwired| date=5 January 2016| title=Cott Announces Closing of Aquaterra Acquisition | url=http://www.marketwired.com/press-release/cott-announces-closing-of-aquaterra-acquisition-nyse-cot-2085466.htm|archive-url=https://web.archive.org/web/20160307091824/http://www.marketwired.com/press-release/cott-announces-closing-of-aquaterra-acquisition-nyse-cot-2085466.htm|archive-date=2016-03-07|url-status=dead|access-date=2019-09-14}}</ref> Eight months later, Cott acquired [[Eden Springs]], a European water and coffee deliverer, for approximately €470 million,<ref>{{Cite web|url=https://www.floridatrend.com/article/20453/eden-springs-to-be-acquired-by-cott-corporation-for-470-525-million|title=Eden Springs to be acquired by Cott Corporation for €470 ($525) million|date=2016-05-08|website=Florida Trend|access-date=2018-12-04}}</ref> and premium [[Coffee preparation|coffee roaster]] S&D Coffee and Tea, for approximately $355 million.<ref>{{cite press release | publisher=Marketwired| date=11 August 2016| title=Cott Announces Closing of S&D Acquisition and Date for Modeling Conference Call | url=http://www.marketwired.com/press-release/cott-announces-closing-of-s-d-acquisition-and-date-for-modeling-conference-call-tsx-bcb-2149968.htm|archive-url=https://web.archive.org/web/20180406101839/http://www.marketwired.com/press-release/cott-announces-closing-of-s-d-acquisition-and-date-for-modeling-conference-call-tsx-bcb-2149968.htm|archive-date=2018-04-06|url-status=dead|access-date=2019-09-14}}</ref> -=== 2014-Present: Acquisitions and divestitures === -Beginning in 2014, Cott expanded via acquisitions predominately in the bottled water industry and exited the carbonated beverages business. In May 2014, Cott completed the acquisition of Aimia Foods (Holdings) Limited, a privately held producer and distributor of hot chocolate, coffee and powdered beverages primarily through food service, vending and retail channels, and a producer of hot and cold cereal products on a contract manufacturing basis located in [[Merseyside]], [[United Kingdom]].<ref>{{cite press release | publisher=Marketwired| date=30 May 2014| title=Cott Announces U.K. Business Unit's Acquisition of Aimia Foods | url=http://www.marketwired.com/press-release/cott-announces-uk-business-units-acquisition-of-aimia-foods-nyse-cot-1915642.htm}}</ref> In November 2014, Cott announced it had agreed to a deal to acquire U.S. direct-to-consumer bottled water and [[coffee]] distributor DSS Group Inc. for aggregate consideration of $1.25 billion.<ref>{{cite press release| publisher=Reuters| date=6 November 2014| title=Canada's Cott Corp to buy U.S.-based water, coffee distributor| url=https://www.reuters.com/article/us-cott-m-a-dss-group-idUSKBN0IQ1BL20141106| access-date=30 June 2017| archive-date=19 October 2015| archive-url=https://web.archive.org/web/20151019061032/http://www.reuters.com/article/2014/11/06/us-cott-m-a-dss-group-idUSKBN0IQ1BL20141106| url-status=live}}</ref> In December 2014, Cott completed the acquisition of DSS Group, Inc. a bottled water and coffee direct-to-consumer home and office delivery services provider in the United States. The aggregate consideration was approximately $1.25 billion.<ref>{{cite press release | publisher=Marketwired| date=12 December 2014| title=Cott Announces Closing of DS Services Acquisition | url=http://www.marketwired.com/press-release/cott-announces-closing-of-ds-services-acquisition-nyse-cot-1976576.htm|archive-url=https://web.archive.org/web/20150703064240/http://www.marketwired.com/press-release/cott-announces-closing-of-ds-services-acquisition-nyse-cot-1976576.htm|archive-date=2015-07-03|url-status=dead|access-date=2019-09-14}}</ref> +in 2017, the company acquired Decantae Mineral Water Ltd, located in North [[Wales]]. -* January 2016: Cott completed the acquisition of Aquaterra, a Canadian bottled water and coffee direct-to-consumer home and office delivery services provider. The initial purchase price paid by Cott was approximately C$62 million.<ref>{{cite press release | publisher=Marketwired| date=5 January 2016| title=Cott Announces Closing of Aquaterra Acquisition | url=http://www.marketwired.com/press-release/cott-announces-closing-of-aquaterra-acquisition-nyse-cot-2085466.htm|archive-url=https://web.archive.org/web/20160307091824/http://www.marketwired.com/press-release/cott-announces-closing-of-aquaterra-acquisition-nyse-cot-2085466.htm|archive-date=2016-03-07|url-status=dead|access-date=2019-09-14}}</ref> +On January 30, 2018, Cott sold its carbonated soft drinks and juice bottling businesses to Refresco for US$1.25 billion.<ref>{{cite news |last1=Griffin |first1=Justine |title=Cott Corp. sells beverage manufacturing business for $1.25 billion |url=https://www.tampabay.com/news/business/cott-corp-sells-beverage-manufacturing-business-for-125-billion/2331422/ |access-date=November 21, 2019 |work=Tampa Bay Times |date=July 25, 2017 |language=en}}</ref> The transaction included the Cott business units in North America, the U.K. and Mexico.<ref>{{cite news |last1=Arthur |first1=Rachel |title=Refresco completes acquisition of Cott’s bottling activities |url=https://www.beveragedaily.com/Article/2018/01/31/Refresco-completes-acquisition-of-Cott-s-bottling-activities |access-date=November 21, 2019 |work=Beverage Daily |date=January 31, 2019}}</ref>That October, Cott announced the acquisition of [[Mountain Valley Spring Water|Mountain Valley Spring Company]] from Great Range Capital for $78.5 million<ref>{{Cite web|last=Schultz|first=Clark|date=2018-10-15|title=Cott acquires Mountain Valley Spring Company|url=https://seekingalpha.com/news/3397465-cott-acquires-mountain-valley-spring-company|access-date=2019-07-15|website=Seeking Alpha}}</ref> The next February, Cott announced the sale of its soft drink concentrate production facility and RCI International division to Refresco for US$50 million.<ref>{{Cite web|last=Corporation|first=Cott|title=Cott Announces the Sale of its Soft Drink Concentrate Production Business and RCI International Division to Refresco in an All-Cash Transaction|url=https://www.prnewswire.com/news-releases/cott-announces-the-sale-of-its-soft-drink-concentrate-production-business-and-rci-international-division-to-refresco-in-an-all-cash-transaction-300791741.html|access-date=2021-01-14|website=www.prnewswire.com|language=en}}</ref> -* June 2016: Cott announced it had agreed to a deal to acquire [[Eden Springs]], Europe's largest home and office water delivery business as well as a top five position in filtration and office coffee services with presence in 17 European countries and [[Israel]].<ref>{{cite press release | publisher=Marketwired| date=7 June 2016| title=Cott Announces Plans to Expand Its Home and Office Bottled Water Delivery and Office Coffee Services Platform Through The Acquisition of Eden Springs in Europe | url=http://www.marketwired.com/press-release/cott-announces-plans-expand-its-home-office-bottled-water-delivery-office-coffee-services-nyse-cot-2131809.htm}}</ref> In August 2016, Cott completed the acquisition of Eden Springs, a European provider direct-to-consumer services provider specializing in home and office delivery water, office coffee services and filtration solutions.<ref>{{Cite web|url=https://www.floridatrend.com/article/20453/eden-springs-to-be-acquired-by-cott-corporation-for-470-525-million|title=Eden Springs to be acquired by Cott Corporation for €470 ($525) million|date=2016-05-08|website=Florida Trend|access-date=2018-12-04}}</ref> The initial purchase price paid by Cott was approximately €470 million.<ref>{{cite press release | publisher=Marketwired| date=2 August 2016| title=Cott Announces Closing of Eden Springs Acquisition | url=http://www.marketwired.com/press-release/cott-announces-closing-of-eden-springs-acquisition-nyse-cot-2147265.htm|archive-url=https://web.archive.org/web/20160811230744/http://www.marketwired.com/press-release/cott-announces-closing-of-eden-springs-acquisition-nyse-cot-2147265.htm|archive-date=2016-08-11|url-status=dead|access-date=2019-09-14}}</ref> +In January 2020, Cott sold S&D Coffee and Tea to Westrock Coffee Company, LLC for US$405 million.<ref>{{Cite web|last=Corporation|first=Cott|title=Cott Announces Agreement to Sell S&D Coffee & Tea to Westrock Coffee in an All-Cash Transaction|url=https://www.prnewswire.com/news-releases/cott-announces-agreement-to-sell-sd-coffee--tea-to-westrock-coffee-in-an-all-cash-transaction-300996749.html|access-date=2021-01-14|website=www.prnewswire.com|language=en}}</ref> -* August 2016: Cott completed the acquisition of S&D Coffee and Tea, a privately held premium coffee roaster and provider of customized coffee, tea and extract solutions to the food service, convenience, hospitality and office segments located in Concord, North Carolina United States. The initial purchase price paid by Cott was approximately $355 million.<ref>{{cite press release | publisher=Marketwired| date=11 August 2016| title=Cott Announces Closing of S&D Acquisition and Date for Modeling Conference Call | url=http://www.marketwired.com/press-release/cott-announces-closing-of-s-d-acquisition-and-date-for-modeling-conference-call-tsx-bcb-2149968.htm|archive-url=https://web.archive.org/web/20180406101839/http://www.marketwired.com/press-release/cott-announces-closing-of-s-d-acquisition-and-date-for-modeling-conference-call-tsx-bcb-2149968.htm|archive-date=2018-04-06|url-status=dead|access-date=2019-09-14}}</ref> - -* July 2017: Cott announced that it had entered into an agreement to sell its carbonated soft drinks and juice bottling businesses to [[Refresco]] for US$1.25 billion.<ref>{{cite news |last1=Griffin |first1=Justine |title=Cott Corp. sells beverage manufacturing business for $1.25 billion |url=https://www.tampabay.com/news/business/cott-corp-sells-beverage-manufacturing-business-for-125-billion/2331422/ |access-date=November 21, 2019 |work=Tampa Bay Times |date=July 25, 2017 |language=en}}</ref> The transaction included the Cott North America, Cott U.K. and Cott Mexico business units (excluding the RCI International division and its associated manufacturing facility located in [[Columbus, Georgia]], as well as the Aimia Foods Division located in the United Kingdom). The transaction closed on January 30, 2018.<ref>{{cite news |last1=Arthur |first1=Rachel |title=Refresco completes acquisition of Cott’s bottling activities |url=https://www.beveragedaily.com/Article/2018/01/31/Refresco-completes-acquisition-of-Cott-s-bottling-activities |access-date=November 21, 2019 |work=Beverage Daily |date=January 31, 2019}}</ref> - -* 2017: Cott acquired Decantae Mineral Water Ltd, located in North [[Wales]]. In October 2018, Cott announced the acquisition of [[Mountain Valley Spring Water|Mountain Valley Spring Company]] from Great Range Capital for $78.5 million.<ref>{{Cite web|url=https://seekingalpha.com/news/3397465-cott-acquires-mountain-valley-spring-company|title=Cott acquires Mountain Valley Spring Company|last=Schultz|first=Clark|date=2018-10-15|website=Seeking Alpha|access-date=2019-07-15}}</ref> through its subsidiary DS Services. - -* February 2019: Cott announced the sale of the soft drink concentrate production facility and RCI International division to Refresco for US$50 million.<ref>{{Cite web|last=Corporation|first=Cott|title=Cott Announces the Sale of its Soft Drink Concentrate Production Business and RCI International Division to Refresco in an All-Cash Transaction|url=https://www.prnewswire.com/news-releases/cott-announces-the-sale-of-its-soft-drink-concentrate-production-business-and-rci-international-division-to-refresco-in-an-all-cash-transaction-300791741.html|access-date=2021-01-14|website=www.prnewswire.com|language=en}}</ref> - -* January 2020: Cott announced that it had entered into an agreement to sell its S&D Coffee and Tea business to Westrock Coffee Company, LLC for US$405 million.<ref>{{Cite web|last=Corporation|first=Cott|title=Cott Announces Agreement to Sell S&D Coffee & Tea to Westrock Coffee in an All-Cash Transaction|url=https://www.prnewswire.com/news-releases/cott-announces-agreement-to-sell-sd-coffee--tea-to-westrock-coffee-in-an-all-cash-transaction-300996749.html|access-date=2021-01-14|website=www.prnewswire.com|language=en}}</ref> In January 2020, Cott announced that it had entered into an agreement to acquire Primo Water Corporation in a transaction valued at approximately US$775 million.<ref>{{Cite web|last=Corporation|first=Primo Water|date=2020-01-13|title=Cott Announces the Acquisition of Primo Water Corporation and Continues its Transition Into a Pure-Play Water Solutions Provider|url=http://www.globenewswire.com/news-release/2020/01/13/1969399/0/en/Cott-Announces-the-Acquisition-of-Primo-Water-Corporation-and-Continues-its-Transition-Into-a-Pure-Play-Water-Solutions-Provider.html|access-date=2021-01-14|website=GlobeNewswire News Room}}</ref> The transaction was completed on March 2, 2020, and included rebranding of the corporate name to Primo Water Corporation and changing ticker symbols to NYSE:PRMW and TSX:PRMW.<ref>{{Cite web|last=Corporation|first=Cott|title=Cott Announces Completion of Acquisition of Primo Water Corporation and With Closing the Sale of S&D Coffee and Tea to Westrock Coffee on February 28th Transitions Into a Pure-Play Water Solutions Provider|url=https://www.prnewswire.com/news-releases/cott-announces-completion-of-acquisition-of-primo-water-corporation-and-with-closing-the-sale-of-sd-coffee-and-tea-to-westrock-coffee-on-february-28th-transitions-into-a-pure-play-water-solutions-provider-301014391.html|access-date=2021-01-14|website=www.prnewswire.com|language=en}}</ref> +On March 2, 2020, Cott completed its purchase of Primo Water Corporation for US$775 million.<ref>{{Cite web|last=Corporation|first=Primo Water|date=2020-01-13|title=Cott Announces the Acquisition of Primo Water Corporation and Continues its Transition Into a Pure-Play Water Solutions Provider|url=http://www.globenewswire.com/news-release/2020/01/13/1969399/0/en/Cott-Announces-the-Acquisition-of-Primo-Water-Corporation-and-Continues-its-Transition-Into-a-Pure-Play-Water-Solutions-Provider.html|access-date=2021-01-14|website=GlobeNewswire News Room}}</ref> As part of the purchase agreement, Cott rebranded as Primo Water Corporation and changed its ticker symbols to NYSE:PRMW and TSX:PRMW.<ref>{{Cite web|last=Corporation|first=Cott|title=Cott Announces Completion of Acquisition of Primo Water Corporation and With Closing the Sale of S&D Coffee and Tea to Westrock Coffee on February 28th Transitions Into a Pure-Play Water Solutions Provider|url=https://www.prnewswire.com/news-releases/cott-announces-completion-of-acquisition-of-primo-water-corporation-and-with-closing-the-sale-of-sd-coffee-and-tea-to-westrock-coffee-on-february-28th-transitions-into-a-pure-play-water-solutions-provider-301014391.html|access-date=2021-01-14|website=www.prnewswire.com|language=en}}</ref> ==References== '