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Last $6.45 USD
Change Today 0.00 / 0.00%
Volume 24.5K
PRMW On Other Exchanges
Symbol
Exchange
NASDAQ GM
Frankfurt
As of 5:20 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

104 Cambridge Plaza Drive

Winston-Salem, NC 27104

United States

Phone: 336-331-4000

Fax:

Primo Water Corporation provides multi-gallon purified bottled water, self-service refill water and water dispensers sold through major retailers in the United States and Canada. The company’s business is designed to generate recurring demand for its purified bottled water or self-serve filtered drinking water through the sale of innovative water dispensers. This business strategy is commonly referred to as ‘razor-razorblade’ because the initial sale of a product creates a base of users who frequently purchase complementary consumable products. Once the company’s bottled water is consumed using a water dispenser, empty bottles are exchanged at its recycling center displays, which provide a recycling ticket that offers a discount toward the purchase of a new bottle of Primo purified water (Exchange) or they are refilled at a self-serve filtered drinking water location (Refill). Each of its multi-gallon water bottles could be sanitized and reused approximately 40 times before being taken out of use, crushed and recycled, substantially reducing landfill waste compared to consumption of equivalent volumes of single-serve bottled water. The company provides major retailers throughout the United States and Canada with single-vendor solutions for Exchange and Refill services. Its solutions are easy for retailers to implement, require minimal management supervision and store-based labor, and provide centralized billing and detailed performance reports. The company’s Refill solution provides filtered water through the installation and servicing of reverse osmosis water filtration systems in the back room of the retailer’s store location, which minimizes the usage of the customer’s retail space. The refill machine, which is typically accompanied by a sales display containing empty reusable bottles, is located within the retailer customer’s floor space. Segments The company has two segments, Primo Water (Water) and Primo Dispensers (Dispensers). Water This segment’s sales consist of the company’s Exchange and Refill services, which are offered through retailers in each of the contiguous United States and Canada. The company’s Water services are offered through point of purchase display racks or self-serve filtered water displays and recycling centers that are primarily located at major retailers in space that is underutilized. Dispensers This segment sells water dispensers that are designed to dispense Primo and other dispenser-compatible bottled water. The company’s Dispensers sales are primarily generated through major U.S. retailers, where the company recognizes revenues for the sale of the water dispensers when title is transferred. The company supports retail sell-through with domestic inventory. The company designs, markets, and arranges for certification and inspection of its water dispensers. Products Water: The company develops its water purification process and formulating the proprietary blend of mineral ingredients included in the purified bottled water offered through its Exchange service. The company’s proprietary blend of mineral ingredients is developed with the assistance of consultants and several months of lab work and taste tests. The company’s Refill service consists of carbon filtration and a reverse osmosis water filtration system that provides filtered drinking water, which is periodically tested for quality. Water Bottles: The company sources 3- and 5-gallon water bottles from multiple independent vendors for use in its Exchange service. Each of its Primo water bottles includes a handle designed for easy transportation and lifting when installing the bottle onto or into one of its water dispensers. The company’s bottles also include a specially designed cap that prevents spills when carrying or installing. For its Refill service, the company offers empty reusable 1-, 2-, 3-, and 5-gallon bottles for a sales display that typically accompany a refill machine, which are sourced from various manufacturers. Water Dispensers: The company sources and markets 2 lines of water dispensers consisted of approximately 28 models. Its dispensers are designed to dispense Primo and othe

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Price/Cash Flow 22.0x
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