Primo Water#Products
{{redirect|Cott|other uses|Cott (disambiguation)}}
{{short description|Beverage and food service company}}
{{Infobox company
| name = Primo Water Corporation
| logo = Primo Water Corporate Logo.png
| type = Public
| traded_as = {{unbulleted list|{{NYSE|PRMW}}|{{TSX|PRMW}}|{{NYSE|PRMB}} }}
| industry = Business Services
| genre =
| foundation = {{start date and age|1955}}
| founder =
| location_city = Tampa, Florida
| area_served = Worldwide
| key_people = Chairman: Jerry Fowden
President and CEO: Tom Harrington
CFO: Jay Wells
| 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}} US$1.953 Billion (Fiscal Year Ended January 2, 2021){{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}}
| operating_income = {{decrease}} –US$0.052 Billion (Fiscal Year Ended January 2, 2021)
| net_income = {{decrease}} –US$0.131 Billion (Fiscal Year Ended January 2, 2021)
| assets = {{increase}} US$3.604 Billion (Fiscal Year Ended January 2, 2021)
| equity = {{increase}} US$1.346 Billion (Fiscal Year Ended January 2, 2021)
| num_employees = 10,400
| subsid =
| homepage = https://primowatercorp.com/
| location_country = United States
}}
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.
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 sodas 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.[http://www.fundinguniverse.com/company-histories/Cott-Corporation-Company-History.html History of Cott Corporation – FundingUniverse]. Fundinguniverse.com. Retrieved on July 24, 2012. In 1969, the name was changed to Cott Beverages Ltd., and in 1991 to Cott Corporation.{{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 SEC}}
Acquisitions
In October 2000, Concord Beverages, with its Vintage brand seltzer water, was acquired from Honickman Group.[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. In July 2010, Cott announced its acquisition of Cliffstar Corporation, a US supplier of store-supplied and made juice beverages.{{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}}
Beginning in 2014, Cott expanded via acquisitions predominantly 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.{{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}} 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.{{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}}
In January 2016, Cott completed the acquisition of Aquaterra, a Canadian bottled water and coffee delivery services provider, for approximately C$62 million.{{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}} Eight months later, Cott acquired Eden Springs, a European water and coffee deliverer, for approximately €470 million,{{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}} and premium coffee roaster S&D Coffee and Tea, for approximately $355 million.{{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}}
On January 30, 2018, Cott sold its carbonated soft drinks and juice bottling businesses to Refresco for US$1.25 billion.{{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}} The transaction included the Cott business units in North America, the UK and Mexico.{{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}} That October, Cott announced the acquisition of Mountain Valley Spring Company from Great Range Capital for $78.5 million{{Cite web|last=Schultz|first=Clark|date=2018-10-15|title=Cott acquires Mountain Valley Spring Company|url=https://seekingalpha.com/news/3397465-cott-acquires-mountain-valley-spring-company|access-date=2019-07-15|website=Seeking Alpha}} The next February, Cott announced the sale of its soft drink concentrate production facility and RCI International division to Refresco for US$.25 billion.{{Cite web |date=2020-01-08 |title=Cott considering sale of its coffee and tea business to focus on water |url=https://calgary.citynews.ca/2020/01/08/cott-considering-sale-of-its-coffee-and-tea-business-to-focus-on-water/ |access-date=2025-01-05 |website=CityNews Calgary |language=en}}{{Cite news |date=May 2, 2019 |title=Cott Corp shares drop as it reports bigger than expected net loss |url=https://financialpost.com/pmn/business-pmn/cott-corp-shares-drop-as-it-reports-bigger-than-expected-net-loss |work=The Canadian Press}}
In January 2020, Cott sold S&D Coffee and Tea to Westrock Coffee Company, LLC for US$405 million.
On March 2, 2020, Cott completed its purchase of Primo Water Corporation for US$775 million.{{Cite press release|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}} As part of the purchase agreement, Cott rebranded as Primo Water Corporation and changed its ticker symbols to NYSE:PRMW and TSX:PRMW.{{Cite web |last=MarketScreener |date=2020-02-28 |title=Cott Corporation completed the acquisition of 82.2% stake in Primo Water Corporation from directors, officers and others for approximately $470 million. - MarketScreener |url=https://www.marketscreener.com/quote/stock/PRIMO-WATER-CORPORATION-6845440/news/Cott-Corporation-completed-the-acquisition-of-82-2-stake-in-Primo-Water-Corporation-from-directors-33968572/ |access-date=2025-01-05 |website=www.marketscreener.com |language=en-US}}{{Cite news |date=November 5, 2024 |title=Primo Water Announces Shareowner Approval of Merger with Bluetriton Brands |url=https://finance.yahoo.com/news/primo-water-announces-shareowner-approval-211500494.html |work=Yahoo Finance}}
In July 2022, Primo Water Corporation acquired Georgia-based Highland Mountain Water for an undisclosed sum.{{Cite web |title=Primo Water Corp. Acquires Highland Mountain Water |url=https://www.marketwatch.com/story/primo-water-corp-acquires-highland-mountain-water-271658140482 |access-date=2022-07-21 |website=MarketWatch |language=EN-US |archive-date=2022-07-21 |archive-url=https://web.archive.org/web/20220721151231/https://www.marketwatch.com/story/primo-water-corp-acquires-highland-mountain-water-271658140482 |url-status=dead }}