TARRYTOWN, N.Y.--(BUSINESS WIRE)--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.
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
"project," "will," "expect," "goal," "positioned," 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 projected revenues for Care
Pharmaceuticals and the acquisition’s expected impact on earnings per
share for 2015. 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
in the forward-looking statements as a result of a variety of factors,
including the impact of foreign exchange, general economic and business
conditions, our ability to successfully integrate Hydralyte, competitive
pressures, unexpected costs, liabilities and disruptions resulting from
the integration, or adverse changes in the laws of the countries in
which Hydralyte products are sold. A discussion of other factors that
could cause results to vary is included in the Company's Annual Report
on Form 10-K for the year ended March 31, 2013 and other periodic
reports filed with the Securities and Exchange Commission. Except to the
extent required by applicable securities laws, we are not under any
obligation to (and expressly disclaim any such obligation to) update any
forward-looking statements, whether as a result of new information,
future events, or otherwise. All statements contained in this press
release are made only as of the date of this release.
Source: Prestige Brands Holdings, Inc.
Prestige Brands Holdings, Inc.
Dean Siegal, 914-524-6819
