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June 17, 2024

Stamford-based owner of Poland Spring to merge with Canadian bottle water company

Contributed A bottle of Poland Spring water.

The Stamford-based owner of Poland Spring, and multiple bottled water brands across the country, has agreed to merge with Primo Water, a Canada-based company that owns the Crystal Rock brand.

The all-stock-transaction is expected to close in the first half of 2025.

The merger is expected to generate a combined net revenue of $6.5 billion for the 12-month period ended March 31, 2024, including an estimated $200 million in cost synergies.

The combined company will be known as NewCo and will have a dual headquarters in Tampa, Florida and Stamford.

BlueTriton shareholders will own 57% of the fully diluted shares of NewCo; Primo Water shareholders and holders will own 43%.

Upon close, many executives will take positions with the new company.

Dean Metropoulos, the current chairman of the board of BlueTriton, will serve as non-executive chairman of the board of the combined company. 

Meanwhile, Robbert Rietbroek, the current CEO of Primo Water, will serve as CEO of NewCo.

BlueTriton’s portfolio includes Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead, Saratoga and Pure Life brands of bottled water.

BlueTriton was acquired in February 2021 by an affiliate of One Rock Capital Partners in partnership with Metropoulos & Co. 

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