In Brief: Playtex
This article was originally published in The Rose Sheet
Playtex: Looking to broaden H&BA and OTC portfolio through acquisitions of brands or companies, or by leveraging the Playtex name on new products, the company said. Dallas-based Hass, Wheat & Partners, which holds a 40% stake in Playtex, is also investigating strategic options for the company. Playtex said it would like to augment sales by $100 mil. by mid-1998 and by $250 mil. by mid-1999. The company's decision to diversify further may be in part a response to P&G's April 9 announcement that it will acquire tampon category leader Tambrands ("The Rose Sheet" April 14, In Brief). Playtex is already making headway in diversifying its revenue base -- for the first quarter of 1997, sun care (Banana Boat and BioSun) sales jumped 32.4% to $43.7 mil., representing 32% of the company's $136.4 mil. business. The company's feminine care unit, on the other hand, slumped 32.7% to $39.1 mil., accounting for 28.7% of sales. In the 1996 first quarter, the segments represented 23.1% and 40.6% of Playtex sales, respectively. The company also sells Jhirmack haircare products Tek toothbrushes, Playtex infant care goods, Playtex household gloves and Woolite carpet cleaner. Playtex' business is heavily weighted to the U.S. and Canada; the two countries account for 95% of the company's revenue...
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