June 17 (Reuters) - North American packaged water

companies Primo Water Corp ( PRMW ) and BlueTriton Brands said

on Monday they would merge in an all-stock deal.

The companies said Primo Water's ( PRMW ) shareholders would likely

own 43% of the combined firm upon completion of the deal, while

BlueTriton are expected to own 57%.

Primo Water ( PRMW ) intends to pay a special dividend of up to $133

million ($0.82/share) to its shareholders prior to closing.

The new firm would have dual headquarters at Tampa, Florida

and Stamford, Connecticut, the companies added.

After the deal is completed, Robbert Rietbroek, Primo

Water's ( PRMW ) incumbent CEO will serve as top boss of the combined

company, while David Hass, CFO of Primo Water ( PRMW ), will serve as the

finance chief.

The merged company will have a combined net revenue of $6.5

billion and adjusted earnings before interest, tax,

depreciation, and amortization (EBITDA), of $1.5 billion,

inclusive of $200 million in estimated cost synergies, for the

twelve-month period ended March 31, 2024.

The merger, of which the closing date and transaction value

were not disclosed, intends to bring bottled water brands such

as Primo Water ( PRMW ), Crystal Springs, Mountain Valley, Arrowhead and

Poland Spring, among others, under one roof.

The combined company is expected to continue to be listed on

the New York Stock Exchange, subject to approval, the companies

said.