News Releases
Prestige To Release First Quarter Fiscal 2017 Results on
The transaction includes New Skin®, PediaCare® and Fiber Choice®, which
in fiscal 2016 represented approximately
These divestitures will enable the Company to move closer to its stated goal of having a portfolio consisting of 85% of its revenue from “invest for growth” brands and 15% in “manage for cash” brands to help support long-term organic growth.
The Company plans to use proceeds from the divestiture to pay down debt
and accelerate de-leveraging. The transaction is expected to close
during Prestige’s fiscal second quarter, which begins on
First Quarter Fiscal 2017
The Company expects to provide an update on this transaction when it
reports the results of the first quarter of fiscal 2017 on
About
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
“will,” “would,” “expect,” “plan,” “continue,” “anticipate” (or the
negative or other derivatives of each of these terms) or similar
terminology. The “forward-looking statements” include statements
regarding the transaction’s impact on revenues, debt and leverage and
the expected timing for consummating the transaction. These statements
represent the Company’s expectations and beliefs and involve a number of
known and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from those expressed or implied by
such forward-looking statements. These factors include, among others,
satisfaction of the closing conditions and general economic and business
conditions, and other risks set forth in Item 1A. Risk Factors in the
Company's Annual Report on Form 10-K for the year ended
View source version on businesswire.com: http://www.businesswire.com/news/home/20160630005358/en/
Source:
Prestige Brands Holdings, Inc.
Dean Siegal, 914-524-6819