Energizer to Acquire Feminine Hygiene Business for $185M
Energizer Holdings, Inc. announced an agreement to acquire the Stayfree pad, Carefree liner and o.b. tampon feminine hygiene brands in the United States, Canada and the Caribbean from McNeil PPC, Inc. and Johnson & Johnson, Inc., members of the Johnson & Johnson Family of Consumer Companies, for an aggregate purchase price of $185 million in cash. Included in the sale are all brand assets, and the Johnson & Johnson, Inc. manufacturing plant in Montreal, Canada.
Energizer estimates that the acquisition will be modestly accretive in fiscal 2014. Closing is subject to customary conditions, including regulatory approval, and is expected to occur in the fourth quarter of 2013.
"We are very excited about the prospect of combining the Stayfree pad, Carefree liner and o.b. tampon feminine hygiene business with our Playtex Feminine Care business, strengthening both in the process," said Ward Klein, chief executive officer, Energizer. "Combining these complementary businesses gives us brands in each of the key feminine hygiene categories, and the opportunity to innovate by doing what we do best – simplifying and enhancing the lives of customers and consumers better than anyone else."
Goldman, Sachs & Co. acted as financial advisor to Energizer on this transaction.
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Energizer estimates that the acquisition will be modestly accretive in fiscal 2014. Closing is subject to customary conditions, including regulatory approval, and is expected to occur in the fourth quarter of 2013.
"We are very excited about the prospect of combining the Stayfree pad, Carefree liner and o.b. tampon feminine hygiene business with our Playtex Feminine Care business, strengthening both in the process," said Ward Klein, chief executive officer, Energizer. "Combining these complementary businesses gives us brands in each of the key feminine hygiene categories, and the opportunity to innovate by doing what we do best – simplifying and enhancing the lives of customers and consumers better than anyone else."
Goldman, Sachs & Co. acted as financial advisor to Energizer on this transaction.
Related Articles:
Energizer Streamlines Packaging Operations
Energizer Reveals Multi-Year Restructuring Program
Energizer Executes a TPM Re-Fresh