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Helen of Troy to buy Pert Plus, Sure brands
March 10th, 2010
EL PASO, Texas – Helen of Troy Ltd. plans to acquire the Pert Plus hair care and Sure antiperspirant and deodorant businesses from Innovative Brands LLC.
Terms of the deal weren't disclosed. Helen of Troy and Phoenix-based Innovative Brands, a portfolio company of investment firm Najafi Cos., said Wednesday the acquisition is slated to close at the end of this month, pending regulatory approvals.
"We are very pleased to acquire the Pert Plus and Sure brands from Innovative Brands," Helen of Troy chairman and chief executive officer Gerald Rubin said in a statement. "We have a growing position in hair care styling and personal grooming with our innovative appliance and accessory businesses, and adding Pert Plus and Sure will enhance our role as a comprehensive provider of solutions for our hair care and personal grooming consumers and styling professionals."
Innovative Brands said it acquired Pert Plus, known as a pioneer of the two-in-one shampoo/conditioner segment, and Sure from Procter & Gamble Co. in 2006 and continued to position and market them as leading consumer products in the United States and Canada.
"Innovative Brands has nurtured and grown these longstanding consumer product lines and we are proud of their market performance," stated Jahm Najafi, CEO of Najafi Cos. "We are confident this acquisition will ensure the continued success of these brands."
Plans call for Helen of Troy to integrate Pert Plus and Sure into its Idelle Labs division, which markets and manages the company's hair and skin care products. Helen of Troy said the two brands are expected to generate about $65 million in annual sales for Idelle Labs, whose products include Infusium 23, Ogilvie, Brut, Vitalis, Final Net, Vitapointe, Condition 3-in 1, Sea Breeze and Ammens.
"We are excited to be adding these two quality brand names to our existing worldwide distribution and believe they will provide ongoing value to our customers and shareholders alike," Rubin commented. "Our most recent acquisition of Infusium 23 from Procter & Gamble was completed in March 2009. We continue to pursue similar acquisitions that can be integrated into Helen of Troy and provide accretive earnings to our shareholders."
Helen of Troy Limited is a maker and marketer of branded personal care and household consumer products. Its personal care offerings include hair dryers, curling irons, hair setters, women's shavers, brushes, combs, hair accessories, hair clippers, mirrors, foot baths, body massagers, paraffin baths, liquid hair styling products, body powder and skin care products.