Prestige Brands Acquires C.B. Fleet, Boosts Women’s OTC Platform
Prestige Brands makes the deal three weeks after divesting the slower-selling Massengill douche brand and as it makes a top marketing priority of growing sales of its Monistat yeast treatment line.
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Prestige hasn’t totally escaped supply chain disruptions caused by shutdowns during the pandemic but it’s relieved to report a smaller impact than most consumer-packaged goods marketers. Slower cough/cold OTC sales also don’t slow its results.
Both firms announce agreement for Prestige to pay Akorn $230m cash for TheraTear, Diabetic Tussin and Zostrix OTCs and MagOx and Multi-betic supplements. Akorn says the agreement is "to sell its Consumer Health business,” even though it retains two consumer brands.
BC and Goody's OTC acetaminophen formulations perhaps are the firm's most known consumer health brands but they account for 12% of its revenues while its Monistat and Summer's Eve brands drove 27% of its sales in its latest quarter. The feminine hygiene brands' contribution, says a Jefferies analyst , will only grow with the firm selling its household care brands to focus entirely on the consumer health market.