Primo Brands $489 million secondary offering

Davis Polk advised the underwriter in connection with the $489 million SEC-registered secondary offering of 20,000,000 shares of Class A common stock of Primo Brands Corporation by an affiliate of One Rock Capital Partners, LLC. Primo Brands repurchased 410,340 shares from the selling stockholder in the offering. The Class A common stock is listed on the New York Stock Exchange under the symbol “PRMB.”

Primo Brands is a leading branded beverage company focused on delivering healthy hydration solutions to millions of customers and consumers. It has an extensive portfolio of highly recognizable, responsibly sourced and conveniently packaged branded beverages distributed across more than 200,000 retail outlets, including brands such as Poland Spring and Pure Life, premium brands like Saratoga and Mountain Valley, regional leaders such as Arrowhead, Deer Park, Ice Mountain, Ozarka and Zephyrhills, purified brands including Primo Water and Sparkletts and flavored and enhanced brands like AC+ION and Splash Refresher.

The Davis Polk capital markets team included partner Derek Dostal, counsel Arisa Akashi Sin and associate Jared A. Bivens. Counsel Dustin Plotnick and associates Michael Hsieh and Danielle D. Grazette provided tax advice. The environmental team included counsel Michael Comstock. The intellectual property team included partner Frank Azzopardi and associate Francesca Masella. Counsel Katia Brener provided FINRA advice. All members of the Davis Polk team are based in the New York office.