Prestige Brands Holdings, Inc. completes divestiture of three brands to Moberg Pharma.
Sale of brands to help pay down debt.
July 11, 2016
by Canadian Packaging staff
TARRYTOWN, NY—Prestige Brands Holdings, Inc. has announced it has closed the previously announced divestiture of three of its non-core over-the-counter healthcare brands to Moberg Pharma AB of Stockholm, Sweden for US$40 million in cash.
The divestiture includes New Skin, PediaCare and Fiber Choice.
Proceeds from the sale will be used to pay down debt and accelerate de-leveraging.
About Prestige Brands Holdings
Prestige Brands markets and distributes brand name over-the-counter healthcare and household cleaning products throughout the U.S. and Canada, Australia, and in certain other international markets. The company’s brands include Monistat women’s health products, BC and Goody’s pain relievers, Clear Eyes eye care products, DenTek specialty oral care products, Dramamine motion sickness treatments, Chloraseptic sore throat treatments, Compound W wart treatments, Little Remedies pediatric over-the-counter products, The Doctor’s NightGuard dental protector, Efferdent denture care products, Luden’s throat drops, Beano gas prevention, Debrox earwax remover, Gaviscon antacid in Canada, and Hydralyte rehydration products and the Fess line of nasal and sinus care products in Australia.