Primo Brands - PRMB STOCK NEWS

Primo Brands (NYSE: PRMB) has announced a four-year partnership with The Ocean Cleanup to support cleanup efforts in Los Angeles County. The collaboration includes supporting the Interceptor™ 007 project in Ballona Creek and new initiatives to reduce ocean plastic pollution.

The partnership builds on Primo's sustainability achievements, including a recently completed nine-year project with Cucamonga Valley Water District that removed agricultural contaminants from groundwater. As a leader in reuse and refill beverage packaging, Primo operates the largest multi-serve and reuse packaging network through three- and five-gallon reusable bottles delivered to homes, offices, and retailers.

The Ocean Cleanup has already removed millions of kilograms of plastic pollution globally. This new partnership will enable expanded deployment, research, and operation of cleanup systems in California's waterways.

Primo Brands (NYSE: PRMB) has scheduled its first quarter 2025 earnings release and conference call. The company will announce its financial results for the quarter ended March 31, 2025, before markets open on Thursday, May 8, 2025.

The earnings conference call will be held at 10:00 a.m. ET on the same day, featuring a management presentation followed by a Q&A session. Participants can join via North America (888-510-2154) or International (437-900-0527) dial-in numbers using Conference ID: 62685.

A live audio webcast will be available through the company's investor relations website at ir.primobrands.com, with a recording archived for later playback.

Primo Brands has announced its portfolio of regional spring water and national purified water brands as the Official Water of Major League Baseball. The partnership includes Arrowhead, Deer Park, Ice Mountain, Ozarka spring waters and Pure Life purified water.

The campaign features MLB stars Fernando Tatis Jr., Elly de la Cruz, Yordan Alvarez, and Austin Riley who will participate in exclusive content, local activations, and community give-back initiatives throughout the season. The activation will run from Opening Day through the World Series, including the All-Star Game.

Each athlete will represent specific brands: de la Cruz partners with Pure Life and Ice Mountain, Riley with Deer Park, Alvarez with Ozarka, and Tatis Jr. with Arrowhead. The campaign, developed by Primo Brands' in-house creative agency The Lab, will include social media content, fan interactions, and local programs focusing on community engagement and healthy hydration awareness.

Primo Brands (NYSE: PRMB) has announced the pricing of a secondary public offering of 45,000,000 shares of Class A common stock by an affiliate of One Rock Capital Partners (the Selling Stockholder) at $29.50 per share. Additionally, Primo Brands will purchase 4,000,000 shares from the underwriters at the same price paid to the Selling Stockholder.

The offering is expected to close on March 12, 2025. The Selling Stockholder has granted underwriters a 30-day option to purchase up to 6,750,000 additional shares. Morgan Stanley and BofA Securities are leading the offering as joint book-running managers, with several other financial institutions participating in various roles.

The Selling Stockholder will receive all net proceeds from the offering, with no shares being sold by the Company directly. The offering will be conducted through a shelf registration statement on Form S-1 that has been declared effective by the SEC.

Primo Brands (NYSE: PRMB) has announced a significant secondary offering where an affiliate of One Rock Capital Partners plans to sell 45,000,000 shares of Class A common stock. The Selling Stockholder will grant underwriters a 30-day option to purchase up to 6,750,000 additional shares.

The offering will be managed by multiple financial institutions, with Morgan Stanley and BofA Securities acting as joint lead book-running managers. Notably, Primo Brands intends to repurchase 4,000,000 shares from the underwriters at the same price paid to the Selling Stockholder, funded through cash on hand.

The company itself is not selling any shares, and all net proceeds will go to the Selling Stockholder. The offering will be conducted through a shelf registration statement on Form S-1 that has been declared effective by the SEC.

Primo Brands (NYSE: PRMB) has announced the final results of its private exchange offers for three series of outstanding senior notes. The exchange offers included:

- €450M of 3.875% Senior Notes due 2028
- $750M of 4.375% Senior Notes due 2029
- $713M of 6.250% Senior Notes due 2029

Following the Early Tender Date (February 7, 2025), additional notes were tendered by the Expiration Date (February 25, 2025): €2.64M of 2028 Notes, $120K of 2029 Notes, and $13.69M of BlueTriton Notes. The final settlement is expected on February 28, 2025. After settlement, remaining outstanding amounts will be: €8.12M of 2028 Notes, $3.55M of 2029 Notes, and $263K of BlueTriton Notes.

Primo Brands (NYSE: PRMB) has announced amendments to its previously announced private exchange offers for three series of outstanding senior notes. The exchange offers include:

- €450,000,000 of 3.875% Senior Notes due 2028 for new 3.875% Senior Secured Notes due 2028 plus cash
- $750,000,000 of 4.375% Senior Notes due 2029 for new 4.375% Senior Secured Notes due 2029 plus cash
- $713,023,000 of 6.250% Senior Notes due 2029 for new 6.250% Senior Notes due 2029 plus cash

The amended terms now offer a 1:1 exchange ratio for notes tendered after February 7, 2025 (Early Tender Date) and before February 25, 2025 (Expiration Date). The final settlement is expected on February 28, 2025. The exchange offers are to eligible institutional investors and are being conducted under Securities Act exemptions.

Primo Brands (NYSE: PRMB) reported strong results for Q4 and full-year 2024. Q4 Combined Net Sales increased 5.5% to $1.609 billion, driven by 4.4% volume gains. Full-year 2024 Combined Net Sales rose 5.4% to $6.810 billion.

The company announced accelerated integration progress, increasing estimated cost synergy targets to $300 million by 2026, with $200 million expected in 2025. Q4 2024 Combined Adjusted EBITDA grew 3.7% to $301.4 million, while full-year Combined Adjusted EBITDA increased 19.5% to $1.353 billion.

The Board declared a quarterly dividend increase to $0.10 per share, payable March 24, 2025. The company reported a Q4 net loss of $153.9 million ($0.49 per diluted share) and a full-year net loss of $12.6 million ($0.05 per diluted share).

Primo Brands (NYSE: PRMB) has announced it will host and webcast an Investor Day on Thursday, February 27, 2025. The event will feature presentations by CEO Robbert Rietbroek and other leadership team members, who will outline the company's long-term growth strategy, outlook, and financial targets.

The presentations are scheduled to run from 1:00 p.m. to after 4:00 p.m. Eastern Time. Investors can access the webcast through the company's Investor Relations website at https://ir.primobrands.com. A replay of the webcast and presentation materials will be made available on the same website after the event.