Smith Anderson client Primo Water Corporation (Nasdaq: PRMW), a leading provider of multi-gallon purified bottled water, self-service refill water and water dispensers, and Glacier Water Services, Inc., a leading provider of high-quality drinking water dispensed to customers through self-service refill water machines, announced a definitive merger agreement pursuant to which Primo will acquire all outstanding shares of Glacier.
The total preliminary transaction consideration is approximately $263 million.
Billy D. Prim, Primo’s Chairman and Chief Executive Officer, said “We are excited to announce the acquisition of Glacier Water, an industry leader in self-service refill water with an exceptional brand…This acquisition provides the opportunity to create significant value for our shareholders and offers strong benefits for our consumers and retail partners.”
Primo Water is based in Winston-Salem, N.C. and the combined company will continue to be headquartered there.
The Smith Anderson team advising Primo Water in this transaction is led by Gerald Roach, Lee Kirby, Amy Batten and Josh Diver.
To read Primo Water’s official press release, please click here.
About Primo Water Corporation
Primo Water Corporation (Nasdaq:PRMW) is North America's leading single source provider of multi-gallon purified bottled water, self-service refill water and water dispensers sold through major retailers throughout the United States and Canada. For more information, visit www.primowater.com.
About Glacier Water Services, Inc.
Glacier is the leading provider of high-quality drinking water dispensed to consumers through self-service water machines located at supermarkets and other retail locations. For more information, visit www.glacierwater.com.