Primo Brands shares steady as sponsor to slash stake

Primo Brands

10/03/2025 12:33

**  Shares of Primo Brands Corp PRMB.N up 4 cents premarket to $31.65 after secondary offering news

    ** Bottled water co says 45 mln shares to be offloaded by One Rock Capital Partners

    ** Morgan Stanley and BofA jt are joint lead bookrunners for offering

    ** Alternative investment manager One Rock reducing holdings by a fifth to ~173.6 mln shares, or 46.2% stake

    ** PRMB has ~380.1 mln shares outstanding as of Feb 21 per the SEC prospectus filing, giving co $12 bln market cap

    ** Tampa, Florida and Stamford, Connecticut dual-headquartered co formed after Primo Water and BlueTriton Brands completed merger in Nov

    ** One Rock owned all of common stock of privately-held BlueTrition, formerly known as Nestle Waters North America, prior to the transaction

    ** Nestle NESN.S sold some its water brands to One Rock in 2021

    ** PRMB shares fell every session last week losing ~6%. But stock up ~40% over the past six months and has roughly doubled over the past year

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))