Playtex to buy remainder of Banana Boat business for $40.4 mil., assumes $27.1 mil. in debt.
This article was originally published in The Rose Sheet
Executive Summary
PLAYTEX TO ACQUIRE REMAINDER OF BANANA BOAT BUSINESS FOR $40.4 MIL. and the assumption of $27.1 mil. in long term debt under a definitive agreement announced by the company Oct. 18. Playtex has owned a 22% equity stake in the Banana Boat Holding Corporation, maker of Banana Boat sun and skin care products, since December 1992, when it acquired the shares for $5 mil.
You may also be interested in...
Playtex CEO
Michael Gallagher will retire by year-end or after his successor is named, firm says. Exec has worked for Playtex for nine years, ascending to CEO in 1995. Under Gallagher's watch, Playtex gained a stake in the sun care category with the acquisition of Banana Boat (1"The Rose Sheet" Oct. 23, 1995, p. 5). He also has held positions with Reckitt & Colman PLC, Eastman Kodak's L&F Products, Clorox Company and Procter & Gamble...
OCA Applauds Organic Board's Recommendation To USDA: "Outlaw Nanotech"
With a push from the Organic Consumers Association, the National Organic Standards Board is recommending that the use of nanotechnology be strictly prohibited from products certified under the National Organic Program