- Transaction Focuses the Company on its Portfolio of Leading Consumer Healthcare Brands
- Proceeds Will be Used to Further Reduce Debt
- Company Announces First Quarter Earnings Release Date and Expects to Provide 2019 Outlook Update to Reflect Sale of Household Cleaning at That Time
The transaction includes Comet®, Spic and Span®, Cinch®, Chore Boy® and Chlorinol® household product brands and related inventory. With the sale of these brands the Company’s portfolio will be comprised entirely of consumer healthcare brands. The divestiture enables the Company to further concentrate its brand-building efforts around its “invest for growth” consumer healthcare brand portfolio to help support long-term organic growth. The Company plans to use the net proceeds from the divestiture to pay down debt.
Household Cleaning Segment Information and First Quarter 2019 Earnings Call Details
The Household Cleaning portfolio contributed
The Company plans to provide a full update on this transaction and its impact to the prior fiscal 2019 outlook when it reports the results of the first quarter fiscal 2019 on August 2, 2018 before the opening of the market. The Company will provide a live conference call to review the results at
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 "strategy," "outlook," "plans," "may," "will," "would," or "expect," (or the negative or other derivatives of each of these terms) or similar terminology. The "forward-looking statements" include, without limitation, statements regarding the Company's planned use of the proceeds from the divestiture and the impact of the divestiture on the Company’s brand-building efforts and long-term growth and shareholder value. 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 general economic and business conditions. 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
About Prestige Brands Holdings, Inc.
The Company markets and distributes brand name over-the-counter healthcare products throughout the U.S. and