High Ridge Completes Bankruptcy Sale

High Ridge Brands Co. has completed the previously announced sale transactions under which an affiliate of Perrigo Company plc has completed the acquisition of the oral care business, and an affiliate of Tengram Capital Partners has completed the acquisition of the hair care and skin cleansing business. 
 
The oral care businesses include Firefly, Reach and Dr. Fresh brands.
 
The hair and skin care business include Zest, Alberto VO5, Coast, White Rain, LA Looks, Zero Frizz, Rave, Salon Grafix and Thicker Fuller Hair, among others. 
 
As previously announced on Feb. 24, 2020, following a comprehensive sales process and a competitive auction conducted under Section 363 of the US Bankruptcy Code, an affiliate of Perrigo and an affiliate of Tengram Capital have agreed to consideration that includes a cash payment to High Ridge Brands of $120.5 million and the assumption by the buyers of working capital and substantially all go-forward liabilities of the businesses. 
 
“We are pleased to complete these value-maximizing sales to two buyers who bring significant resources and experience helping brands build on their strong foundations,” said Patricia Lopez, CEO and president of High Ridge Brands. “We have worked closely with both Perrigo and Tengram to ensure a seamless transition for our customers and consumers. I would also like to thank our employees for their hard work and dedication to serving our customers throughout this process.”   
 
With the completion of the sale transaction, the court-supervised sale process has concluded, according to High Ridge Brands.
 
In February when the deal with  Tengram was announced, Tengram said that James Daniels, who was High Ridge's former president and CEO at its original formation and who oversaw the company's initial growth, woulr return in the same role upon the closing of the transaction.