Primo Water and BlueTriton agree to merge

Goodmans LLP is advising Primo Water Corporation in its definitive agreement to merge with an affiliate of BlueTriton Brands, Inc., to create a leading North American pure-play healthy hydration company with diversified offerings across products, formats, channels and consumer occasions.

The all-stock transaction was unanimously approved by their respective Boards of Directors. Upon closing, Primo Water shareholders and holders of incentive equity are expected to own 43% of the fully diluted shares of the combined company ("NewCo"), and BlueTriton shareholders are expected to own 57% of the fully diluted shares of NewCo.  Closing is subject to customary closing conditions, including Primo shareholder approval, regulatory approvals and the approval of the arrangement by the Ontario courts.