Helen of Troy says to buy 2 brands

By IBTimes Staff Reporter | March 10 2010 9:49 AM

Personal-care products maker Helen of Troy Ltd said it agreed to buy the Pert Plus hair care and Sure anti-perspirant and deodorant brands from Innovative Brands LLC and expects the businesses to generate about $65 million in annual sales.

Sponsorship Link

The acquisition, expected to close at the end of this month, will be accretive upon integration into its Idelle Labs division, the company said in a statement.

Idelle Labs sells brands such as Infusium 23, Ogilvie, Brut, Vitalis, Final Net, Vitapointe, Condition 3-in 1, Sea Breeze and Ammens through professional, mass merchant, drug store and grocery distribution channels.

Shares of the company, which had acquired the Infusium 23 hair-care business from Procter & Gamble Co about a year ago, closed at $24.80 Tuesday on Nasdaq. (Reporting by Abhishek Takle in Bangalore; Editing by Bijoy Koyitty)

More in Companies