Sales: $302 million
$302 million. Net income: $32 million for the fiscal year ended March 31, 2010.
Matthew M. Mannelly, president and chief executive officer; Peter J. Anderson, chief financial officer; Timothy J. Connors, chief marketing officer; Lieven Nuyttens, senior vice president, operations; Eric S. Klee, secretary and general counsel; John Parkinson, senior vice president, international; Jean Boyko, senior vice president, science and technology; David B. Talbert, senior vice president, sales
Household care—Chore Boy, Cinch, Comet and Spic and Span; Personal care—Cloverine, Cutex, Ezo, Kerodex, Prell, Zincon, New Skin
For its most recently completed fiscal year, Prestige Brands’ household cleaning sales were $108.7 million and its personal care sales were $10.8 million. The firm’s OTC health care products business—which includes remedies such as Little Noses, Compound W and Murine—generated sales of $177 million.
Last fall, the firm sold three shampoo businesses (Denorex, Prell and Zincon) to Ultimark Products. The trio of brands represented approximately 2-3% of Prestige’s company sales. The deal included an upfront payment of $8 million in cash, with a subsequent payment of $1 million that’ s due Oct. 28, 2010. The proceeds from the sale were earmarked to pay down debt.
“The successful sale of these businesses allows us to increase focus on our two larger segments, over-the-counter healthcare and household cleaning products, to enhance shareholder value,” said Matthew Mannelly, Prestige Brands’ president and chief executive officer. Mannelly took over in September when Mark Pettite resigned.
Shampoo wasn’t the only thing Prestige Brands shed; last September it completed of a staff reduction program that eliminated approximately 10% of the company’s workforce.