Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 337

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 337
---
 part of a Board-approved plan to sell all of our international businesses representing a strategic shift in our operations. Accordingly, the International Businesses are presented herein as discontinued operations for all periods
presented.

In connection with the European Divestiture, the Company and the Purchaser entered into a transition services agreement
pursuant to which the Purchaser will provide certain information technology and shared service center services to the Company for various periods. For the year ended December 30, 2023, these services were not material.

F-84

The major components of Net income (loss) from discontinued operations, net of income taxes in the accompanying Consolidated Statements of Operations include the following:

|                                                                     | (in millions of U.S. dollars) | For the Fiscal Year Ended | December 30, 
         2023 |   |     |   | December 31, 
         2022 |   |     |   | January 1, 
       2022 |   |
|:--------------------------------------------------------------------|:------------------------------|:--------------------------|-------------:|:--|:----|:--|-------------:|:--|:----|:--|-----------:|:--|
| Revenue, net                                                        |                               | $                         |        575.0 |   |     | $ |        521.9 |   |     | $ |      496.9 |   |
| Cost of sales                                                       |                               |                           |        267.7 |   |     |   |        247.7 |   |     |   |      230.5 |   |
| Gross profit                                                        |                               |                           |        307.3 |   |     |   |        274.2 |   |     |   |      266.4 |   |
| Selling, general and administrative expenses                        |                               |                           |        271.2 |   |     |   |        267.6 |   |     |   |      264.5 |   |
| Loss on disposal of property, plant and equipment, net              |                               |                           |          0.7 |   |     |   |          1.1 |   |     |   |        0.2 |   |
| Acquisition and integration expenses                                |                               |                           |          0.9 |   |     |   |          3.2 |   |     |   |        1.7 |   |
| Impairment charges