Primo Water to sell ‘significant portion’ of international business
Primo Water Corporation will sell part of its international business in an all-cash transaction valued at up to $575m.
Culligan International, backed by BDT Capital Partners managed funds, will acquire a ‘significant portion’ of Primo Water’s international business.
Primo Water plans to focus on its home market in North America: where the company already has ‘leadership, scale and a significant addressable customer opportunity’.
The sale of part of the international business marks Primo’s first step in exiting all its international operations. While this month’s transaction with Culligan excludes the Aimia Foods, United Kingdom, Portugal, and Israel businesses, each of these will be sold over 2024.