Primo Water Announces Amendment to Its Credit Agreement to Reduce the Interest Rate and Provide an Additional Term Loan of $3.0

Primo Water Announces Amendment to Its Credit Agreement to Reduce the Interest
Rate and Provide an Additional Term Loan of $3.0 Million

WINSTON-SALEM, N.C., June 19, 2013 (GLOBE NEWSWIRE) -- Primo Water Corporation
(Nasdaq:PRMW), a leading provider of multi-gallon purified bottled water and
water dispensers, today announced an amendment to its credit agreement with
Comvest Capital.

The amendment i) provides an additional term loan of $3.0 million; ii) lowers
the interest rate on the original and additional term loans to 12.5% from a
previous total of 16% per annum; and iii) adjusts the prepayment penalty to 5%
in the first year after the closing date of the amendment, 3% in the second
year and 1% in the third year, which was previously 10% through October 2013
and 4% through April 2015. The original term loan of $15.2 million was amended
to include the paid-in-kind interest of $0.3 million for a total amount of
$15.5 million. The $3.0 million additional term loan will be used to pay fees
related to the amendment and provide additional working capital for the

Mark Castaneda, Primo Water's Chief Financial Officer, stated, "We are pleased
with the improved terms under our amended agreement. We had the opportunity to
reduce our borrowing costs by 350 basis points while maintaining our
relationship with Comvest Capital, which enabled us to avoid a 10% prepayment
fee we would have incurred if we refinanced prior to October 2013 with another
party. We believe that the debt refinancing is a reflection of our Company's
improved credit quality, underscoring the improvements we have made to our
business over the past year."

About Primo Water Corporation

Primo Water Corporation (Nasdaq:PRMW) is a leading provider of multi-gallon
purified bottled water, self-serve filtered drinking water and water
dispensers sold through major retailers throughout the United States and
Canada. Learn more about Primo Water at

Forward-Looking Statements

Certain statements contained herein are not based on historical fact and are
"forward-looking statements" within the meaning of the applicable securities
laws and regulations. Generally, these statements can be identified by the use
of words such as "anticipate," "believe," "could," "estimate," "expect,"
"feel," "forecast," "intend," "may," "plan," "potential," "project," "should,"
"would," "will," and similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain these
identifying words. Owing to the uncertainties inherent in forward-looking
statements, actual results could differ materially from those stated herein.
Factors that could cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, the loss of major
retail customers of the Company or the reduction in volume or change in timing
of purchases by major retail customers, lower than anticipated consumer and
retailer acceptance of and demand for the Company's Exchange and Refill
services and its water dispensers, changes in the Company's relationships with
its independent bottlers, distributors and suppliers, the entry of a
competitor with greater resources into the marketplace and competition and
other business conditions in the water and water dispenser industries in
general, the Company's experiencing product liability, product recall or
higher than anticipated rates of warranty expense or sales returns associated
with product quality or safety issues, the loss of key Company personnel,
changes in the regulatory framework governing the Company's business, the
Company's inability to efficiently and effectively integrate acquired
businesses with the Company's historical business, the Company's inability to
efficiently expand operations and capacity to meet growth, the Company's
inability to develop, introduce and produce new product offerings within the
anticipated timeframe or at all, the Company's inability to comply with its
covenants in its credit facilities, the failure of lenders to honor their
commitments under the Company's credit facilities, as well as other risks
described more fully in the Company's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K filed on March 22, 2013
and its subsequent filings under the Securities Exchange Act of 1934.
Forward-looking statements reflect management's analysis as of the date of
this press release. The Company does not undertake to revise these statements
to reflect subsequent developments, other than in its regular, quarterly
earnings releases.

CONTACT: Mark Castaneda
         Primo Water Corporation
         Phone: (336) 331-4047

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