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Article: Prestige Brands Holdings, Inc. Sells Three Shampoo Brands to Ultimark Products.
- Article from:
- Journal of Transportation
- Article date:
- November 14, 2009
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Prestige Brands Holdings, Inc. (NYSE:PBH) announced it has sold its three shampoo businesses to Ultimark Products. The transaction includes Prell[R] Shampoo, Denorex[R] Dandruff Shampoo, and Zincon[R] Dandruff Shampoo from the Company's Personal Care segment. These brands collectively represent approximately 2-3% of annual company sales.
Terms of the agreement include an upfront payment of $8 million in cash, followed by a subsequent payment of $1 million on October 28, 2010. The Company will use the proceeds of the sale to pay down debt.
"The successful sale of these businesses allows us to increase focus on our two larger segments, over-the-counter ...
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