Primo to repay revolver drawings after international businesses sale

By Sara Rosenberg

New York, Nov. 2 – Primo Water Corp. intends to repay the outstanding balance on its cash flow revolving credit facility after closing on the sale of a significant portion of its international businesses to Culligan International in an all-cash transaction valued at up to $575 million, according to a news release.

The transaction excludes the Aimia Foods, United Kingdom, Portugal and Israel businesses, but each of these will be sold across 2024.

The company has a long-term goal of sustaining adjusted net leverage under 2.5x adjusted EBITDA.

Closing is expected by Dec. 31, subject to regulatory approvals and other customary conditions.

Primo Water is a Tampa, Fla.-based pure-play water solutions provider.

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