Prestige Consumer Healthcare Inc. Completes Acquisition of Breathe Right

Prestige Consumer Healthcare Inc. has closed the acquisition of the Breathe Right brand and certain other brands.

Created in the 1990s as a nasal strip category, Breathe Right will become the company’s largest brand as it represents expansion into a new category for Prestige.

The closing was finalized pursuant to the terms of the asset purchase agreement, which was announced on March 20. These terms included Prestige agreeing to acquire the Breathe Right brand and certain other brands from Foundation Consumer Healthcare for $1.0 billion, or approximately $900 million net of anticipated tax benefits valued at $150 million, officials said.

The company financed the transaction with a combination of available cash on hand and a completed financing of a new Term Loan B.