Primo Water Corporation : Primo Water and Cuisinart Sign Agreement to Market Sparkling Beverage Appliances and Consumables
11/05/2012| 08:24am US/Eastern
Recommend:
WINSTON-SALEM, N.C., Nov. 5, 2012 (GLOBE NEWSWIRE) -- Primo
Water Corporation (Nasdaq:PRMW), a leading provider of
multi-gallon purified bottled water and related products, and
Cuisinart, a dominant force in the kitchen electrics and
cookware industries, announced today that the companies have
signed a three-year sales, distribution and licensing
agreement. Under the terms of the agreement, Cuisinart will
market and sell Primo Water's existing line of sparkling
beverage appliances and related consumables in North America,
and Primo will supply CO2 cylinders for Cuisinart's new
proprietary line of sparkling beverage makers.
Primo Water's beverage maker line consists of the
Flavorstation and Liberty models, both of which fall under
the marketing and sales terms of the new agreement. Beginning
this month, Cuisinart will debut its own sparkling beverage
makers, which will be powered by Primo Water CO2 cylinders
and available in Cuisinart's traditional retail channels,
which encompass department and specialty stores (including
online segments). Additionally, Primo Water will provide the
distribution and refilling of CO2 cylinders for both its own
units and Cuisinart branded sparkling beverage makers.
"This strategic alliance is consistent with our decision
to re-focus on our core businesses and strengths, and we are
excited to partner with Cuisinart, a leader in kitchen
appliances, cookware and other housewares markets," said
Billy Prim, Chairman and CEO of Primo
Water. "Cuisinart has the experience and
proficiency to grow and maintain sales in this quickly
expanding category. Primo has experience and expertise
in managing a retail distribution network and can support the
growth of this new category by supplying the appliances'
key consumable component - the CO2 cylinder."
"Cuisinart has been successfully building on its diverse
product assortment and strong retail presence, and the
beverage maker segment was a natural next step for the
company," said Ron Diamond, President of Conair
Corporation, Cuisinart's parent company. "There
are many significant reasons that led us to partner with
Primo Water in this endeavor, one of the most important being
its direct-store-delivery network to major
retailers. This offers a clear advantage over other
forms of distribution for CO2 cylinders."
The Primo Water/Cuisinart partnership was reached at a time
when the sparkling beverage maker category is expanding, and
offers a significant growth opportunity for both
companies. As consumer demand increases, both Primo
Water and Cuisinart will be poised to provide a wide range of
innovative home beverage-making options for a variety of
household needs.
About Cuisinart:
Cuisinart, universally known for introducing the food
processor in America, is a leader in culinary appliances,
professional quality cookware and kitchen accessories. The
company's cutting edge reputation can be seen on numerous
fronts, from industry-first products and design awards to
sponsorships of culinary events and TV cooking shows.
Cuisinart manufactures a full range of products under the
tagline, "Savor the Good Life®." These products
include cookware, countertop cooking appliances, blenders,
stand mixers and coffeemakers, as well as food processors,
toasters and toaster ovens, ice cream makers, kitchen gadgets
and flatware. Cuisinart has the following websites: www.cuisinart.com, www.cuisinart.com/baby
and www.cuisinartcleanwater.com,
and social media sites: www.facebook.com/cuisinart,
www.twitter.com/cuisinart
and www.twitter.com/cuisinartpr. The
company also has a new iPhone, iPad and Android app,
Cuisinart's KitchenSync http://www.cuisinart.com/recipes/kitchensync.html.
The Cuisinart logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15558
About Primo Water Corporation:
Primo Water Corporation is a leading provider of multi-gallon
purified bottled water, self-serve filtered drinking water,
water dispensers and CO2 cylinders sold through major
retailers throughout the United States and Canada.
Primo's purified water and appliances can be found at
over 20,000 retailers across North America including, Walmart
(NYSE:WMT), Lowes Home Improvement (NYSE:LHI), Kmart
(Nasdaq:SHLD), Kroger (NYSE:KO), H.E. Butt and many others.
Learn more about Primo Water at www.primowater.com
The Primo Water Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11942
Forward-Looking Statements
Certain statements contained herein are not based on
historical fact and are "forward-looking
statements" within the meaning of the applicable
securities laws and regulations. Generally, these statements
can be identified by the use of words such as
"anticipate," "believe,"
"could," "estimate," "expect,"
"feel," "forecast," "intend,"
"may," "plan," "potential,"
"project," "should," "would,"
"will," and similar expressions intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Owing to the uncertainties inherent in forward-looking
statements, actual results could differ materially from those
stated here. Factors that could cause actual results to
differ materially from those in the forward-looking
statements include, but are not limited to, the failure of
Primo Water's new agreement with Conair Corporation
(described in this news release) to generate anticipated
sales, earnings or other benefits, the loss of major retail
customers of Primo Water or the reduction in volume or change
in timing of purchases by major retail customers, lower than
anticipated consumer and retailer acceptance of Primo
Water's products and services, changes in Primo
Water's relationships with its independent bottlers,
distributors and suppliers, the entry of a competitor with
greater resources into the marketplace and competition and
other business conditions in the water and water dispenser
industry in general, Primo Water's experiencing product
liability, or sales returns associated with a product quality
or safety issue, the loss of key Primo Water personnel,
changes in the regulatory framework governing Primo
Water's business, Primo Water's inability to
efficiently and effectively integrate acquired businesses
with its historical businesses, Primo Water's inability
to efficiently expand operations and capacity to meet growth,
Primo Water's inability to develop, introduce and produce
new product offerings (including the Flavorstation line of
appliances) within the anticipated timeframe or at all, as
well as other risks described more fully in Primo Water's
Annual Report on Form 10-K filed with the Securities and
Exchange Commission and its subsequent filings under the
Securities Exchange Act of 1934. Forward-looking statements
reflect management's analysis as of the date of this
press release. Primo Water does not undertake to revise these
statements to reflect subsequent developments, except as
required by applicable law.
CONTACT: Mary M. Rodgers
Cuisinart
Phone: (203) 975-4609
E-mail: mary_rodgers@conair.com
or
Mark Castaneda
Primo Water Corp.
Phone: (336) 331-4047
E-mail: mcastaneda@primowater.com
Source: Primo Water Corporation
News Provided by Acquire Media
distributed by
|
|
Recommend :
