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BRIEF-Primo Water to acquire Glacier Water Services

Oct 10 Primo Water Corp

* Primo Water to acquire Glacier Water Services, Inc.

* Primo Water Corp - total preliminary transaction consideration is approximately $263 million

* Primo Water Corp- Primo will acquire all outstanding shares of Glacier

* Primo Water Corp says acquisition agreement has been unanimously approved by board of directors of both companies

* Primo Water - assumed indebtedness includes Glacier's trust preferred securities due in 2028, which will remain outstanding, to not be affected by deal

* Combination is expected to generate approximately $6.0 to $7.0 million in annual operational and shared service synergies

* Primo Water Corp says combined company will continue to be headquartered in Winston-Salem, NC and will keep a presence in Vista, CA post-closing

* Primo Water Corp- upon closing of transaction, Brian Mcinerney, CEO of Glacier Water, and key management will remain in place ,operate combined refill businesses

* Primo Water -total preliminary transaction consideration consists of about $50 million in cash, about $36 million in stock, about $177 million of net indebtedness

* Primo Water Corp- Water intends to fund cash portion of transaction consideration through a fully committed financing provided by Goldman Sachs Bank

* Primo Water -total preliminary transaction consideration also consists of 5 year warrants to purchase 2 million shares of Co at $11.88 per share Source text for Eikon: Further company coverage:

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