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TARRYTOWN, N.Y — Prestige Brands Holdings Inc. has agreed to acquire privately held DenTek Oral Care Inc for $225 million in cash. The DenTek brand includes the market leading dental floss pick, as well as other oral care products for adults and children.
Prestige Brands Holdings Inc. has agreed to acquire privately held DenTek Oral Care Inc for $225 million in cash. The DenTek brand includes the market leading dental floss pick, as well as other oral care products for adults and children.
The company plans to finance the acquisition with a combination of funds from its existing credit facilities and available cash, and expects the transaction would add approximately a half point to its leverage calculation at the time of the close. The transaction is expected to close during the first half of calendar year 2016.
"The acquisition of DenTek, when combined with our existing oral care products, will create our fifth $100 million platform and provide the opportunity to enter the fast-growing specialty oral care category anchored by the DenTek brand," said Prestige Brands president and chief executive officer Ron Lombardi. "The DenTek brand complements our existing oral care platform and fits our business model with outsourced manufacturing and distribution, allowing us to focus on our core competencies in marketing and sales."
The DenTek deal will be Prestige Brands’ seventh acquisition in the past six years.