Supplier News Breaks
Prestige Brands wraps up Blacksmith acquisition
November 2nd, 2010
IRVINGTON, N.Y. – Prestige Brands Holdings Inc. has completed its deal to purchase Blacksmith Brands Holdings Inc.
The company said Monday that the agreement was finalized under the original terms announced on Sept. 20, which called for Prestige to pay $190 million in cash at closing plus a customary working capital adjustment that amounted to $13.4 million. Prestige added that it also recently completed a financing of additional bond and bank debt to fund the acquisition and one-time related expenses.
With the acquisition, Prestige picks up five over-the-counter health care brands: Efferdent denture cleaner, Effergrip denture adhesive cream, PediaCare cough/cold/allergy/sinus and fever remedy for infants and children, Luden's throat drops and NasalCrom allergy prevention nasal spray
Prestige's current brand portfolio include such well-known names as Compound W wart treatments, Chloraseptic sore throat relief and allergy treatment products, New-Skin liquid bandage, Clear Eyes and Murine eye care products, Little Remedies pediatric products, and The Doctor's NightGuard dental protector. The company also holds the Comet and Spic and Span household cleaner brands.
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