Posted by Barry Silverstein on January 3, 2012 11:02 AM
With the end of a calendar year comes a flurry of corporate divestitures and acquisitions, designed to improve a company's bottom line going into the next year. Procter & Gamble, for instance, recently sold the PUR brand to Helen of Troy Limited, a "serial acquirer" of P&G brands who, in addition to PUR, owns Infusium23, Pert Plus and Sure.
So no surprise in 2011's 11th hour deal by GlaxoSmithKline to transfer 17 of its North American consumer OTC healthcare brands to a new owner, as was announced by Prestige Brands and GSK. Prestige Brands will acquire brands including Beano, Goody's, Ecotrin, Fiber Choice, Sominex, and Tagamet from GSK for a total of $660 million in cash, with all transactions expected to be completed in the first half of 2012.
For Prestige Brands, the acquisition is the largest in the company's history, following on the heels of their recent acquisitions of five brands from Blacksmith Brands and Dramamine from Johnson & Johnson. The company expects the acquired GSK brands to generate annual corporate revenues of about $600 million, "with an OTC business segment representing 85 percent of revenues and 90 percent of profits," according to Prestige Brands CEO Matthew M. Mannelly.Continue reading...
Posted by Dale Buss on December 2, 2010 08:58 AM
Apple receives patent for glasses-free 3D TV.
BBC iPlayer is coming to the US — via an iPad subscription.
Cracker Barrel commits to install some electric-vehicle charging stations.
Dish Network touts iPad service.
Ford and Nissan lead US car-sales gains in November.
Hulu says it’s open to new investors so it can expand abroad.
IAC founder Barry Diller is stepping down as CEO but "not going anywhere."Continue reading...