Primo Water Enters Into New $35 Million Credit Facility

Primo Water Enters Into New $35 Million Credit Facility

WINSTON-SALEM, N.C., June 23, 2014 (GLOBE NEWSWIRE) -- Primo Water Corporation
(Nasdaq:PRMW), a leading provider of multi-gallon purified bottled water,
self-service refill water and water dispensers, today announced that it has
entered into a new $35 million credit facility with Prudential Insurance
Company of America and its affiliates.

The new credit facility provides up to $35 million in borrowing availability
and is made up of a $15 million revolving credit facility that matures in June
of 2019 and $20 million in term notes with final maturities in June of 2021.
The revolving portion of the credit facility has an interest rate of LIBOR
plus 4.25% and the term notes have an interest rate of 7.8%, which reflects a
significant reduction from the rate of the Company's prior debt. The Company
used proceeds from the new credit facility to repay its existing debt and
anticipates having additional future availability under the revolving portion
of the new credit facility for general working capital purposes.As of the
closing date, the Company has $9.5 million in availability under the revolving
portion of the credit facility.

"We are pleased to announce the completion of the new credit facility with
substantial improvements in borrowing costs and increased borrowing
availability," commented Mark Castaneda, Primo Water's Chief Financial
Officer."We expect the new credit facility will save over $2.0 million in
interest expense annually.In addition, we expect that the lower cost of
borrowing will provide capital to fund future growth in our water and
dispenser businesses."

About Primo Water Corporation

Primo Water Corporation (Nasdaq:PRMW) is a leading provider of multi-gallon
purified bottled water, self-service refill 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 relate to future
availability and reduced interest expense and borrowing costs under our new
senior credit facility.These statements can otherwise 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, increases in
market interest rates, the failure of the Company to comply with its covenants
and the other terms and conditions of the new credit facility, 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, adverse changes in the Company's
relationships with its independent bottlers, distributors and suppliers
(including as a result of the Company's entering into the strategic alliance
agreement with DS Waters), 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, 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 17, 2014
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 or as otherwise required by applicable securities laws.

CONTACT: Primo Water Corporation
         Mark Castaneda, Chief Financial Officer
         (336) 331-4000
         ICR Inc.
         John Mills
         Katie Turner
         (646) 277-1228

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