Primo Water Corporation, based in Florida, has confirmed its decision to exit Russia, according to a press release.
“Primo's water solutions expand consumer access to purified, spring and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution,” a recent press release states, not mentioning the departure. “Primo is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensure strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.”
The sustainable drinking water solutions company with existing operations in North America and Europe is one of hundreds of companies who have exited the country amid its invasion of Ukraine. The decision was made soon after reporting its local 2021 revenue count of $14 million, making up less than 1% of 2021 consolidated revenues, and adjusted EBITDA of approximately $3 million.
All-in-all, the company, which operates under a recurring razor/razorblade revenue model, has reported a collective revenue sum across both regions of $2.1 billion per year.
Its water dispensers are available for purchase at retailers and online at various price points, available to homes and businesses across the globe. Its water exchange and water refill businesses sell pre-filled and reusable containers at over 13,000 locations and water refill units at approximately 22,000 locations across 22 countries.