Helen of Troy to Acquire OXO International

Helen of Troy Ltd., El Paso, TX, has entered into a definitive asset purchase agreement to acquire the business of OXO International from WKI Holding Company, Inc. for $275 million. The acquisition is expected to close in Helen of Troy-s fiscal second quarter.

OXO sales in the next year are expected to exceed $100 million. Based in New York, OXO International is a world leader in providing innovative consumer products such as approximately 500 consumer product tools in several categories, including, kitchen, cleaning, barbecue, barware, garden, automotive, storage and organization. OXO also has strong customer relationships with leading specialty and department store retailers.

In other news, Helen of Troy sold its 55% ownership interest in Tactica International, Inc., to the current operating management of Tactica.