Primo Brands Corporation

What does Primo Brands own?
Primo Brands owns a portfolio of leading water brands including Poland Spring, Deer Park, Arrowhead, Ozarka, Primo Water, Mountain Valley, Crystal Springs, and others. The company also operates a water dispenser exchange business and production facilities across the United States.

Is Primo Brands publicly traded?
Yes, Primo Brands Corporation is publicly traded on the New York Stock Exchange under the ticker symbol PRMB. The company began trading following the merger of BlueTriton Brands and Primo Water in November 2024.

Who founded Primo Brands?
Primo Brands was formed in November 2024 through the merger of BlueTriton Brands (created in 2021 when One Rock Capital Partners acquired Nestle Waters North America) and Primo Water Corporation. The company was not founded by individuals but was created through corporate transactions.

Where is Primo Brands headquartered?
Primo Brands is headquartered in Tampa, Florida and Stamford, Connecticut, USA. The company maintains operations across the United States.

What is Primo Brands' revenue?
Primo Brands reported FY2025 net sales of $6.7 billion and adjusted EBITDA of $1.45 billion. In Q2 2026, net sales increased 3.8% to $1.8 billion with adjusted EBITDA of $385 million.

Who owns Primo Brands?
Primo Brands is controlled by One Rock Capital Partners, a private equity firm whose affiliates own a significant amount of the voting power. The company is publicly traded on the NYSE under the ticker symbol PRMB, with public minority shareholders holding the remaining shares.

What happened to BlueTriton Brands?
BlueTriton Brands merged with Primo Water Corporation on November 8, 2024, to form Primo Brands Corporation. The combined company is the largest branded bottled water company in the United States and trades on the NYSE under the ticker symbol PRMB.

Primo Brands' origins trace back to 2021, when One Rock Capital Partners acquired Nestle Waters North America from Nestle for approximately $4.3 billion, creating BlueTriton Brands. Nestle Waters North America had been the bottled water division of Nestle, operating brands including Poland Spring, Deer Park, Arrowhead, and Ozarka, some of which dated back to the 19th century. Poland Spring was founded in 1845 in Maine, Deer Park in 1873 in Maryland, and Arrowhead in 1894 in California.

Following the acquisition in 2021, BlueTriton Brands operated as an independent, privately held beverage company focused on bottled water. The company established its own management team and corporate structure, invested in operational efficiency, and focused on brand marketing and sustainability initiatives.

In 2023, BlueTriton Brands began exploring strategic alternatives, including a potential initial public offering or merger. The company's private equity owner, One Rock Capital Partners, sought to create a larger, more competitive water beverage platform.

On November 8, 2024, BlueTriton Brands completed its merger with Primo Water Corporation, a publicly traded company listed on the NYSE under the ticker symbol PRMB. The transaction combined BlueTriton's portfolio of regional spring water brands with Primo Water's dispenser exchange business and purified water operations, creating the largest branded bottled water company in the United States. The combined company was renamed Primo Brands Corporation and began trading on the NYSE under the ticker symbol PRMB.

In 2025, Primo Brands focused on integrating the two similarly sized organizations, creating a One Primo culture, and positioning the business for long-term success. The company sold its production facility in Ontario, Canada in Q1 2025 and exited its US Office Coffee Services business to streamline operations. For FY2025, the company reported net sales of $6.7 billion and adjusted EBITDA of $1.45 billion, with adjusted EBITDA margin improving to 21.7% from 19.3% in FY2024.

In 2026, Primo Brands continued to build momentum. Q1 2026 net sales were $1.63 billion, up 0.8%, and Q2 2026 net sales were $1.8 billion, up 3.8%, driven by growth in premium brands and regional spring water. The company updated its full year 2026 guidance to net sales growth of 2% to 4%, with adjusted EBITDA of $1.465 billion to $1.515 billion and adjusted free cash flow of $790 million to $810 million.

Primo Brands has established sustainability initiatives focused on water stewardship, sustainable packaging, and environmental responsibility. As the largest branded bottled water company in the United States, the company recognizes its responsibility to manage water resources sustainably and reduce the environmental impact of plastic packaging.

The company has invested in lightweighting plastic bottles, increasing the use of recycled PET (rPET) in packaging, and developing more sustainable packaging solutions. Primo Brands operates water stewardship programs to protect and manage the springs and water sources that supply its brands.

The company faces scrutiny regarding the environmental impact of single-use plastic bottles, which is an industry-wide challenge. Primo Brands has committed to improving packaging recyclability and supporting recycling infrastructure. The company also faces regulatory and litigation risks related to plastics pollution and developing laws surrounding the production and use of plastics.

As a controlled company with private equity ownership, Primo Brands faces scrutiny regarding the alignment of One Rock Capital Partners' interests with those of public minority shareholders. The company's substantial indebtedness from the merger transaction also represents a financial consideration.