Helen of Troy Closes P&G Business Acquisition
Helen of Troy Limited, designer, developer and worldwide marketer of brand-name personal care, healthcare, home environment and household consumer products, announced the Dec. 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, Helen of Troy Limited, says, "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."
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, Helen of Troy Limited, says, "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."