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Slide #21. Prestige Brands — Insight Pharmaceuticals
Prestige Brands (NYSE:PBH)
Prestige Brands Holdings, Inc.("Prestige" or the "Company") (NYSE:PBH) today announced that it has entered into a definitive agreement to acquire Insight Pharmaceuticals Corporation ("Insight"), a marketer and distributor of feminine care and other over-the-counter ("OTC") healthcare products, for $750 million in cash. As part of the transaction, Prestige will acquire tax attributes with a present value of approximately $100 million, which results in an effective purchase price of approximately $650 million. This transaction, combined with the Hydralyte transaction announced on April 15, 2014, is expected to result in pro forma revenues and adjusted EBITDA of approximately $800 million and $300 million, respectively for the Company in fiscal 2015.
Prestige Consumer Healthcare is a holding company. Through its subsidiaries, Co. develops, manufactures, markets, sells and distributes over-the-counter (OTC) healthcare products to mass merchandisers and drug, food, dollar, convenience, club and e-commerce stores in North America and in Australia and certain other international markets. Co.'s portfolio of OTC Healthcare products includes, among others, Clear Eyes eye and ear care products, Compound W wart removal, Chloraseptic sore throat liquids and lozenges, DenTek oral care products, Luden's cough drops, Monistat women's health products, Nix lice and parasite treatment products and Fess Nasal Saline Sprays and Washes.
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Hold (2.50 out of 4)