Chattem buys Ban from BMS for $165 mil.; annual sales boosted 60% to $240 mil..
This article was originally published in The Rose Sheet
Executive Summary
CHATTEM BAN BUY WILL BOOST ANNUAL SALES 60% TO $240 MIL. on a pro forma basis, making the antiperspirant/deodorant line the company's largest revenues generator to date, Chattanooga, Tenn.-based Chattem said. In a Feb. 23 announcement of the Ban acquisition from Bristol-Myers Squibb for $165 mil. in cash, Chattem estimated the antiperspirant's annual sales reached $97 mil. in 1997. Chattem consolidated sales totaled $143.2 mil. in FY 1997 (ended Nov. 30). Chattem predicted Ban sales will be flat for the first year but hopes to see a 3% to 5% increase per year with sales once again over $100 mil. in 1999.
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