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NutraMax buying American White Cross first aid business for $40 mil. in cash.

This article was originally published in The Tan Sheet

Executive Summary

NUTRAMAX TO ACQUIRE AMERICAN WHITE CROSS FIRST AID BUSINESS for $40 mil. in cash under a definitive agreement between the two companies, the Gloucester, Mass.-based private label manufacturer announced July 21. The deal is subject to approval of the Delaware bankruptcy court, in which the bankruptcy case of American White Cross is pending. The agreement may be adjusted based on the value of inventory, accounts receivable and assumed liabilities. American White Cross manufactures and markets store and value brand first aid products such as adhesive bandages, medical tapes and first aid kits, which it sells at retail and to the hospital and industrial safety markets.
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