Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 28

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 28
---
 integration process may be complex, costly, time-consuming, and subject to significant business, economic, and competitive
uncertainties and contingencies, many of which are difficult to predict and beyond our control.

We may not be able to maintain the levels
of revenue, earnings, or operating efficiency that each of Primo Brands, on the one hand, and the acquired businesses, on the other hand, had achieved or might achieve separately. Even if we realize the expected benefits, this may not be achieved
within the anticipated timeframe. Furthermore, the synergies from acquisitions may be offset by costs incurred in consummating such acquisitions or in integrating the acquired businesses, increases in other expenses, operating losses, or unrelated
adverse results in the business. As a result, there can be no assurance that such synergies will be achieved.

10

Our business is dependent on our ability to maintain access to our water sources. Water scarcity, government regulation of water access, loss of water rights, and poor quality could negatively affect our long-term financial performance.

Our regional spring water brands are sourced from company-owned, leased, or purchased natural springs at over 90 uniquely located sites. The
following could cause an increase in the cost of our products or shortages that would likely not allow us to meet market demand: a disruption in the water flow or change in water quality at any one of our water sources (whether from geological
shifts or other changes, natural or otherwise), a dispute over water rights, loss of permits or regulatory approvals, increased legal restrictions on water use, access to or delivery of our water sources, increasing pressure to conserve and
replenish water in areas of scarcity and stress, access to water that constitutes spring water, decreased water flow at sourcing locations, the classification of water by the U.S. Food and Drug Administration (the “FDA”) or other
governmental authorities, or the failure to maintain access to or rights to extract from our water sources. While the Company is not materially dependent upon any single spring source, the potential delivery and price disruptions due to the loss of
any one water source or a decline in the volume of water available could disrupt our business and result in incremental costs (such as additional shipping costs) as the Company would be required to transport water from other available spring sources
to meet consumer demand.

Water is a natural resource facing significant challenges from population growth, environmental
contamination, climate change, and government regulation. As demand for water continues to increase, and if water becomes scarcer and the quality