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Prestige Brands to acquire DenTek

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TARRYTOWN, N.Y. — Prestige Brands Holdings Inc. has agreed to acquire DenTek Oral Care Inc. from investment firm TSG Consumer Partners LLC for $225 million in cash.

DenTek Floss picksPrestige Brands said Monday that it expects the transaction to close during the first half of 2016, pending customary closing conditions and regulatory approvals.

DenTek manufactures a wide range of oral care products, including floss picks, interdental brush cleaners, dental guards, disposable dental picks, braces care and dental repair products. The products are available in more than 30 countries, with its U.S. retail sellers including Walmart, Target, Walgreens, CVS/pharmacy, Rite Aid and Kroger, among others.

Prestige Brands noted that the addition of DenTek will expand its portfolio of over-the-counter brands into specialty oral care products market in the United States, Australia and Europe.

“The acquisition of DenTek, when combined with our existing oral care products, will create our fifth $100 million platform and provide the opportunity to enter the fast-growing specialty oral care category anchored by the DenTek brand,” stated Ron Lombardi, president and chief executive officer of Prestige Brands. “DenTek is an excellent fit with our acquisition criteria, which is focused on using M&A to build our portfolio and create brand-building and innovation opportunities for long-term growth. The DenTek brand complements our existing oral care platform and fits our business model with outsourced manufacturing and distribution, allowing us to focus on our core competencies in marketing and sales.”

Prestige’s roster of brands includes Monistat women’s health products, Nix lice treatment, Chloraseptic sore throat treatments, Clear Eyes eye care products, Compound W wart treatments, The Doctor’s NightGuard dental protector, Little Remedies pediatric products, Efferdent denture care products, Luden’s throat drops, Dramamine motion sickness treatment, BC and Goody’s pain relievers, Debrox earwax remover and, in Canada, Gaviscon antacid.

“The acquisition of DenTek will mark our seventh transaction in the past six years as we continue to execute our proven strategy of acquiring, integrating and building brands to grow our portfolio and increase shareholder value,” Lombardi added. “This acquisition will bring our portfolio closer to our stated objective of 85% ‘invest for growth’ brands and 15% ‘manage for cash.’ We look forward to adding the DenTek brand to our growing portfolio.”

Pierre LeComte, managing director at TSG, cited DenTek’s global expansion and the increased presence of its brand. “We have great respect for David Fox and the other members of DenTek’s talented management team and have greatly valued our partnership with them,” LeComte stated. “Over the last five years, DenTek has significantly expanded its retail network across 30 countries and developed a leading position in several oral care categories. We are confident DenTek will continue to build on its momentum under Prestige Brands.”

DenTek president and CEO David Fox commented, “TSG Consumer has been an outstanding partner of ours during a period of accelerated growth at DenTek. TSG’s input regarding our new product development, sales and marketing activities, and acquisitions was immeasurable, and we are grateful for their expert guidance.”


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