Energizer to Buy J&J's Feminine Hygiene Business in US, Canada, Caribbean for $185M in Cash
Energizer Holdings, Inc. (NYSE: ENR) today announced an agreement to acquire the Stayfree® pad, Carefree® liner and o.b.® tampon feminine hygiene brands in the U.S., Canada and the Caribbean from McNeil PPC, Inc. and Johnson & Johnson, Inc., members of the Johnson & Johnson Family of Consumer Companies for an aggregate purchase price of $185 million in cash. Included in the sale are all brand assets, and the Johnson & Johnson, Inc. manufacturing plant in Montreal, Canada. Energizer estimates that the acquisition will be modestly accretive in fiscal 2014. Closing is subject to customary conditions, including regulatory approval, and is expected to occur in the fourth quarter of 2013.
Goldman, Sachs & Co. acted as financial advisor to Energizer on this transaction.
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