The transaction extends High Ridge Brands' portfolio beyond its personal cleansing and hair care brands into the attractive oral care category, while deepening its talent bench and broadening its global distribution platform. Dr. Fresh's asset-light operating model, portfolio of high-usage, consumable products with resilience through economic cycles, and strong cash flow characteristics, are well aligned with High Ridge Brands and its acquisition criteria. The transaction, which will enhance High Ridge Brands' overall margin profile, was funded with a combination of cash on hand, debt and equity financing, according to the company.
"We are delighted to announce this acquisition which brings well-known, trusted oral care brands such as Reach, Firefly, and Dr. Fresh to our portfolio," said James Daniels, president and CEO of High Ridge Brands. "In today's economy, consumers are looking for ways to stretch their budgets without compromising quality and performance. The Dr. Fresh transaction will help further solidify our position as the 'Champions of Value,' providing our retail partners and the consumers they serve with innovative, benefit-rich personal care products at a compelling value. We are excited to welcome the Dr. Fresh team to the High Ridge Brands family."
Founded in 1998 and based in Buena Park, CA, Dr. Fresh is a leading provider of quality oral care products for all ages sold under well-known brands such as Firefly, Reach, Dr. Fresh, Binaca and Dazzling White. Its products are sold through retailers across mass, dollar, food and drug channels primarily in North America and Europe. Dr. Fresh's portfolio, which includes manual and power toothbrushes, travel kits, rinse and floss items, holds leading market positions across its attractive niche oral care categories such as children's, value and travel kits.
"Over the last four years, the MCP/NexPhase team has worked closely with Dr. Fresh's founder and company management to achieve our mutual goal of building the largest independent branded oral care company through organic growth initiatives and strategic acquisitions," said Doug Corbett, chief executive officer of Dr. Fresh and NPC operating partner, added, "We believe the company is poised for continued growth and success with High Ridge Brands."