Global consumer products company Helen of Troy announces closing of acquisition of P&G's Pur water purification products business
Michelle Rivera
EL PASO, Texas
,
January 3, 2012
(press release)
–
Helen of Troy Limited (NASDAQ, NM: HELE), designer, developer and worldwide marketer of brand-name personal care, healthcare, home environment and household consumer products, today announced the December 30, 2011 closing of its previously announced agreement to acquire the PUR® water purification products business ("PUR") from The Procter & Gamble Company ("P&G").
The PUR business sells and markets a variety of high-quality water filtration products under its namesake PUR brand in the growing water purification category. PUR's products, which include faucet mount systems and filters, pitcher systems and filters, and refrigerator filters, are sold throughout the United States. The acquisition does not include P&G's Children's Safe Drinking Water corporate philanthropy program. The powder product and patents used in that program will remain with P&G, who will transition that effort to the P&G corporate name.
Gerald J. Rubin, Chairman, Chief Executive Officer and President, commenting on the acquisition's closing said, "We expect to quickly integrate the PUR brands into our Healthcare/Home Environment segment, where it is a natural fit. The category shares the segment's current customer base, target audience, and product focus areas. PUR adds an important brand to our strong portfolio of well-recognized and widely-trusted brands for our retail partners and consumers, and is in line with our overall corporate strategy of adding businesses with value-added consumables, such as the proprietary filters that are important in this category.
We expect that sales of the PUR brand will be approximately $110 million on an annual basis, and that the acquisition will be immediately accretive to earnings. Our Healthcare/Home Environment segment sells branded health care devices such as thermometers, humidifiers and heating pads, and small domestic appliances such as air purifiers, portable heaters, fans, and bug zappers. Its brands include: Vicks®, Braun®, Honeywell®, Stinger® and SoftHeat® which are sold through mass merchandisers, home improvement stores, drugstore chains, warehouse clubs, catalogs, grocery stores, specialty stores and certain medical distributors."
About Helen of Troy Limited: Helen of Troy Limited is a leading global consumer products company offering creative solutions for its customers through a strong portfolio of well-recognized and widely-trusted brands, including: Housewares: OXO®, OXO Good Grips®, OXO Soft Works® and OXO Steel®; Personal Care: Revlon®, Vidal Sassoon®, Dr. Scholl's®, Pro Beauty Tools®, Sure®, Pert Plus®, Infusium23®, Brut®, Ammens®, Hot Tools® and Gold 'N Hot®; and Healthcare/Home Environment: Vicks®, Braun®, Honeywell®, PUR®, Stinger® and SoftHeat®. The Revlon® trademark is used under license from Revlon. The Vidal Sassoon®, Vicks® and Braun® trademarks are used under license from The Procter & Gamble Company. The Dr. Scholl's® trademark is used under license from Schering-Plough/Merck. The Honeywell® trademark is used under license from Honeywell. For more information, please visit www.hotus.com.
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