Playtex buys Hawaiian Tropic
This article was originally published in The Rose Sheet
Executive Summary
Playtex Products has acquired Tiki Hut Holding Company, the owners of Hawaiian Tropic for $83 mil., according to an April 19 release. Playtex projects that sales from its skin-care segment will increase to more than $340 mil. annually as a result of the deal. In 2006, net sales of Hawaiian Tropic products in the tanning, sun protection, baby and kids, sunless tanning, after-sun, burn relief and lip protection segments exceeded $110 mil., Playtex says, adding that Hawaiian Tropic previously was "the largest privately-held sun-care manufacturer in the world." The firm expects to derive annual synergies from the deal of $11 mil. The business will be fully synergized by FY 2009...
You may also be interested in...
Energizer Grows Personal Care With Acquisition Of Leading Sun-Care Brands
Energizer Holdings will gain Banana Boat and Hawaiian Tropic - the No. 2- and No. 4-selling sun- care brands, respectively - through its $1.9 billion purchase of Playtex Products, the companies announce July 12
Playtex board grows
Playtex Products elects Maureen Tart-Bezer to its board of directors, firm announces May 2. "An experienced financial and management executive," Tart-Bezer has served as the executive VP and CFO of Virgin Mobile USA, executive VP and general manager of the American Express Company's consumer group, and as a senior financial officer at AT&T, Playtex says. She currently serves as director to The Great Atlantic & Pacific Tea Company. Tart-Bezer is "a welcome addition to our Board of Directors. We expect that her strong financial background and significant management experience will benefit Playtex as we evolve from being a turnaround situation to being a growth-oriented company," CEO Neil DeFeo states. In April, Playtex acquired Hawaiian Tropic sun care (1"The Rose Sheet" April 23, 2007, In Brief)...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.