Prestige Brands Shows International Ambition In Care Pharmaceuticals Buy
This article was originally published in The Tan Sheet
Executive Summary
The acquisition of Australian OTC firm Care Pharmaceuticals brings Prestige Brands a portfolio of pediatric and women’s health products, as well as potential entrée into additional Asia Pacific markets.
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Rapidly Growing Prestige Brands Still Positioned For OTC Pickups
The company says it successfully integrated the OTC portfolio acquired from GlaxoSmithKline and is using free cash flow to trim its debt load in the wake of the debt-financed $660 million deal. Prestige reported Q1 net sales up 54.7%, including 4.2% organic growth in OTC health care.
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