Dial acquisitions?
This article was originally published in The Tan Sheet
Executive Summary
Personal care firm may seek to acquire $200 mil.-$300 mil. brand in personal cleansing or household products categories, CEO Herbert Baum says during Prudential Securities Back-to-School Consumer Conference Sept. 5. Evaluation of candidates will begin in Q4. Dial is interested in brands that "might be unimportant to a bigger company," Baum says, citing P&G, Reckitt Benckiser, Colgate-Palmolive and Unilever. As of June 30, Dial has roughly $130 mil. in cash, which could be applied to deal. While Dial's board of directors recently reiterated company still is on the sales block, Baum notes potential sale is long-term goal and firm will "be going it alone for the foreseeable future"...