Helen of Troy buys Ogilvie brand
This article was originally published in The Rose Sheet
Executive Summary
Helen of Troy acquires Ascendia Brand's Ogilvie line of at-home salon hair straightening and permanent products. Gerald J. Rubin, CEO and president of Helen of Troy, says Ogilvie will be integrated into firm's Idelle division of skin- and hair-care products; he noted that Ogilvie enjoys a loyal core base of consumers who opt for "do-it-yourself" hair care. "We are excited to be adding this quality brand name to our existing worldwide distribution and believe it will provide increasing future value to our customers and shareholders." The company estimates that Ogilvie will generate $10 mil. in annual sales and expects the acquisition to be accretive in its fourth quarter ending February 28, 2009
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