Playtex to buy remainder of Banana Boat business for $40.4 mil. and $27.1 mil. debt.
This article was originally published in The Tan Sheet
Executive Summary
PLAYTEX TO ACQUIRE REMAINDER OF BANANA BOAT BUSINESS FOR $40.4 MIL. and the assumption of $27.1 mil. in long-term debt under a definitive agreement announced by the company Oct. 18. Playtex has owned a 22% equity stake in the Banana Boat Holding Corporation, maker of Banana Boat sun and skin care products, since December 1992, when it acquired the share for $5 mil. The company became Banana Boat's primary U.S. distributor in November 1993 ("The Tan Sheet" Dec. 6, 1993, p. 14).