Prestige Brands Holdings completes purchase of Australian over-the-counter oral rehydration brand Hydralyte from Hydration Pharmaceuticals Trust; transaction terms not disclosed
TARRYTOWN, New York
May 1, 2014
– Prestige Brands Holdings, Inc. (NYSE:PBH) (“Prestige”) today announced that it has closed the previously announced acquisition of Hydralyte™ from the Hydration Pharmaceuticals Trust of Victoria, Australia. Hydralyte is the leading over-the-counter oral rehydration brand in Australia, and will be marketed and sold through Care Pharmaceuticals (“Care”), Prestige’s subsidiary in Australia.
The transaction was finalized pursuant to the original terms of the purchase agreement announced on April 15, 2014. As previously mentioned, the acquisition of Hydralyte is projected to double the revenues of Care to approximately $50 million (AUD), and is expected to be accretive to Prestige’s earnings per share for fiscal 2015, exclusive of transaction, integration and purchase accounting items. Prestige acquired Care in July 2013.
About Prestige Brands Holdings, Inc.
The Company markets and distributes brand name over-the-counter and household cleaning products throughout the U.S., Canada, Australia, and in select international markets. Core brands include Chloraseptic® sore throat treatments, Clear Eyes® eye care products, Compound W® wart treatments, The Doctor's® NightGuard® dental protector, the Little Remedies® and PediaCare® lines of pediatric over-the-counter products, Efferdent® denture care products, Luden's® throat drops, Dramamine® motion sickness treatment, BC® and Goody's® pain relievers, Beano® gas prevention, Debrox® earwax remover, and Gaviscon® antacid in Canada.
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