By Colin Kellaher
Primo Brands' biggest shareholder, One Rock Capital Partners, is selling 45 million shares in a secondary offering, ceding its controlling stake in the water company.
Private-equity firm One Rock, which currently owns about 57.5% of Primo, would see its stake fall to about 46% after the offering, or nearly 44.5% if the underwriters exercise a 30-day option to buy up to an additional 6.75 million shares.
Primo on Monday said it plans to buy back 4 million of the shares being sold, adding that it will fund the repurchase with cash on hand.
One Rock, which acquired its Primo stake through last year's merger of its portfolio company BlueTriton Brands with Primo Water, will remain Primo's largest shareholder but will no longer control the company.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 10, 2025 07:38 ET (11:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。