M&A Deal Summary

Primo Water Acquires Mountain Valley Spring Company

On October 15, 2018, Primo Water acquired consumer products company Mountain Valley Spring Company from Great Range Capital for 79M USD

Acquisition Highlights
  • This is Primo Water’s 2nd transaction in the Consumer Products sector.
  • This is Primo Water’s 5th largest (disclosed) transaction.
  • This is Primo Water’s 4th transaction in the United States.
  • This is Primo Water’s 1st transaction in Arkansas.

M&A Deal Summary
Date 2018-10-15
Target Mountain Valley Spring Company
Sector Consumer Products
Buyer(s) Primo Water
Sellers(s) Great Range Capital
Deal Type Add-on Acquisition
Deal Value 79M USD

Target

Mountain Valley Spring Company

Hot Springs, Arkansas, United States
Mountain Valley Spring Company LLC is a fast-growing American brand of spring and sparkling water and is one of the most recognized home and office distribution ("HOD") brands in the United States. Mountain Valley focuses on spring water bottled in a variety of glass bottle sizes ranging from five-gallon bottles which are delivered to homes and offices throughout the U.S. to single serve sizes such as one liter, 500mL and 333mL. Over the years Mountain Valley has added sparkling and flavored sparkling water in glass bottles as well as lightweight plastic offerings for its sparkling and spring water lines. Mountain Valley is uniquely positioned as the premium American water brand and is a leader in the high growth premium bottled water branded category as well as the sparkling and flavored water categories.

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Buyer(S) 1

Buyer

Primo Water

Tampa, Florida, United States
Category Company
Founded 1955
Sector Beverages
Employees9,230
Revenue 1.8B USD (2023)
DESCRIPTION

Primo Water provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored water, filtration equipment, and coffee. Primo Water was founded in 1955 and is based in Tampa, Florida.

DEAL STATS #
Overall 9 of 21
Sector (Consumer Products) 2 of 3
Type (Add-on Acquisition) 9 of 19
State (Arkansas) 1 of 2
Country (United States) 4 of 13
Year (2018) 2 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-12 Crystal Rock Holdings

Watertown, Connecticut, United States

Crystal Rock Holdings, Inc. is a provider of quality water products and delivery services.

Buy $35M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-08 Cott - Soft Drink Concentrate Production & RCI International Division

Tampa, Florida, United States

Cott Corp. - Soft Drink Concentrate Production & RCI International Division is a developer and manufacturer of soft drink concentrate for bottlers in more than 70 countries.

Sell $50M

Seller(S) 1

SELLER

Great Range Capital

Mission Woods, Kansas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Great Range Capital is a private equity firm focused on acquiring controlling interests in mid-sized businesses in the Midwest. The Firm will consider a variety of transaction situations, including leveraged and management buyouts, recapitalizations, build-ups, growth financings, and structured equity deals. Great Range looks to invest in profitable (>$3 million of EBITDA) with minimum revenues of $10 million. Sectors of interest include business and industrial services, healthcare services/devices, retail and consumer, and niche manufacturing. Great Range Capital was formed in 2010 and is based in Mission Woods, Kansas.

DEAL STATS #
Overall 1 of 4
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Arkansas) 1 of 1
Country (United States) 1 of 4
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-29 OneSource Staffing and Labor

Mission, Kansas, United States

OneSource Staffing and Labor is a professional staffing company that specializes in providing restoration and light industrial laborers throughout the U.S. OneSource Staffing and Labor was founded in 1998 and is based in Mission, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 FairWave Specialty Coffee Collective

Kansas City, Missouri, United States

FairWave is a Specialty Coffee Collective that fuels the future of local specialty coffee, through superior experiences and a mission to respect every hand in the journey from seed to cup. The company brings financial insights, industry best practices, and behind-the-scenes support, so brands can stay invested in their product, experience, and local market. FairWave Specialty Coffee Collective is based in Kansas City, Missouri.

Buy -
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