Helen Of Troy Seals P&G Deal
Bermuda-based consumer products company Helen of Troy Ltd today [Jan. 3] said it had closed an agreement to acquire the PUR water purification products business from Procter & Gamble [P&G].
The PUR business sells and markets a variety of high-quality water filtration products under its namesake PUR brand. The division offers products including faucet mount systems and filters, pitcher systems and filters, and refrigerator filters.
The company said the acquisition does not include P&G’s Children’s Safe Drinking Water corporate philanthropy programme. The powder product and patents used in that programme will remain with P&G, who will transition that effort to the P&G corporate name.
Gerald J. Rubin , Chairman, Chief Executive Officer and President, noted that the company expects to quickly integrate the PUR brands into the company’s Healthcare/Home Environment segment.
Helen of Troy expects that sales of the PUR brand will be approximately $110 million on an annual basis, and that the acquisition will be immediately accretive to earnings.
Helen of Troy Limited is a manufacturer of personal care electrical products under brands licensed from Vidal Sassoon, Revlon, Dr. Scholl’s, Sunbeam, Health o meter, Sea Breeze, and Vitapoint. It is also the parent corporation of OXO International.
The company is headquartered in Bermuda and its US operations are headquartered in El Paso, Texas.
