Breaking News

Helen of Troy to Acquire Infusium from P&G

March 4, 2009

Eighty-year-old hair care brand a staple for stylists

Helen of Troy Limited has entered into an agreement with The Procter & Gamble Company (P&G) to acquire the global Infusium 23 hair care business for an undisclosed cash purchase price.

Infusium 23, with its unique 80-plus year heritage, has established a trusted reputation with stylists and consumers through its transformational product performance, says the company. The brand will be integrated into Helen of Troy's Idelle Labs division of skin and hair care products

The transaction is expected to close by the end of the month.

Gerald J. Rubin, Chairman, Chief Executive Officer and President, commenting on the acquisition stated, "We are very pleased to be acquiring the Infusium 23 brand from P&G. We currently have a leading position in hair care styling with our innovative appliance and accessory businesses and adding Infusium 23 will enhance our role as a comprehensive provider of solutions for our hair care consumers and styling professionals.

"We will quickly integrate Infusium 23 into our Idelle Labs division of skin and hair care products. We estimate that Infusium 23 will generate approximately $40 million in sales on an annualized basis with products that will be marketed into both retail and professional trade classes. We expect the acquisition to be accretive immediately. Our Idelle Labs division sells branded products including Ogilvie, Vitalis, Final Net,
Vitapointe, Condition 3−in 1, Brut, Sea Breeze and Ammens through
professional, mass merchant, drug store and grocery distribution channels. We are excited to be adding this quality brand name to our existing worldwide distribution, and believe it will provide future value to our customers and shareholders alike," Rubin concluded.


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