Letter to the Editor: BlueTriton Brands 1041 Water Permit Review by County Commissioners
To the Commissioners and Commissioners-elect:
As you gear up for the meeting on December 10th to discuss BlueTriton Brands’ 1041 water permit, we at Unbottle and Protect Chaffee County Water wanted to share some key points for your consideration. We’ve been tracking this issue since 2021 when we first warned that the private equity owners were likely to divest BlueTriton Brands after you extended Nestlé Waters North America’s 1041 permit to them. Fast forward to today, and the owners have indeed merged with Primo Brands Corporation, making the shift from private to public ownership.
We’ve taken a close look at the recent letter from BlueTriton Brands counsel, Caitlin Quander, to County attorneys. The layers of complexity revealed in trying to explain the ownership changes are quite telling. It’s a lot to untangle, with new entities popping up and old ones disappearing without much explanation. Ms. Quander even suggests that the County attorneys review a hefty 767-page SEC filing detailing the merger. It seems like a lot of legalese to explain what she claims is “no change in ownership.”
However, we believe the argument for transfer is straightforward. The permit’s current extension clearly states that “ANY change in ownership of the permittee” triggers the conditions for transfer. The use of the word “ANY” is deliberate and inclusive, covering both direct and indirect ownership changes. When the private company went public, it created thousands of new indirect owners, which we believe meets the transfer condition. Even the specifics after the word “OR” are insignificant in this context, as the original owners’ ownership percentage will dwindle as they sell off their shares.
It’s important to note that the 2021 permit extension discussions didn’t leave us feeling confident that transfer conditions were thoroughly examined. Ms. Quander’s linguistic acrobatics to describe the lack of ownership change are concerning. It feels like an attempt to overwhelm with complexity rather than provide clarity.
Given this situation, we urge you to carefully review the transfer conditions and seek outside expertise if needed. Utilizing the cost reimbursement fund established by BlueTriton to hire independent counsel versed in merger & acquisition law could provide valuable insights. As stewards of Chaffee County, ensuring a transparent and fair process for permit transfers is crucial.
Ultimately, our goal is to uphold the due process required for permit transfers. We advocate for written consent from the Commissioners and a public hearing to address the evolving ownership landscape. Let’s navigate this together in the best interest of Chaffee County and its residents.
Respectfully,
Unbottle and Protect Chaffee County Water
