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|Prestige Brands Holdings, Inc. Acquires Care Pharmaceuticals, an Australian OTC Healthcare Products Company|
Care’s brands are sold throughout
Annual revenues for Care are approximately
In making the announcement, Prestige CEO
“The acquisition of Care provides a new and expanded platform for
Prestige in the growing
Mr. Yesner commented, “I am very proud of the work our team has done to build a vital business, and we are pleased to be a part of the Prestige team. Care and Prestige share a common culture focused on building brands, innovation and new products. We look forward to integrating the Murine and Clear Eyes businesses into our growing portfolio and look to expand the geographic opportunities for Care’s products through Prestige’s existing distributor network. Together we can continue to build a portfolio which benefits from the core strengths of both companies,” he said.
“The acquisition of Care is our fourth acquisition in the past four years, and an excellent match with our acquisition criteria,” Mr. Mannelly said. “We anticipate a smooth transition as we integrate our operations. The acquisition is expected to be accretive to earnings per share for fiscal year 2014, exclusive of transaction costs and purchase accounting related items, with minimal impact on our leverage level,” he said.
The Company markets and distributes brand name over-the-counter and
household cleaning products throughout the U.S. and
Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the
meaning of the federal securities laws that are intended to qualify for
the Safe Harbor from liability established by the Private Securities
Litigation Reform Act of 1995. "Forward-looking statements" generally
can be identified by the use of forward-looking terminology such as
"assumptions," "target," "guidance," "outlook," "plans," "projection,"
"may," "will," "would," "expect," "intend," "estimate," "anticipate,"
"believe”, "potential," or "continue" (or the negative or other
derivatives of each of these terms) or similar terminology. The
"forward-looking statements" include, without limitation, statements
regarding the expected impact on earnings and our ability to create a
new platform and continue to build a portfolio for both companies, to
integrate the Murine and Clear Eyes businesses with the Care
Pharmaceutical business, expand geographic opportunities, and smoothly
integrate the businesses and operations. These statements are based on
management's estimates and assumptions with respect to future events and
financial performance and are believed to be reasonable, though are
inherently uncertain and difficult to predict. Actual results could
differ materially from those expected as a result of a variety of
factors, including the impact of foreign exchange, general economic and
business conditions, our ability to successfully integrate
Prestige Brands Holdings, Inc.