Acquires health care and home environment consumer products business for $260m
Personal care and household consumer products specialist Helen of Troy Ltd has entered into an agreement to buy Kaz Inc for $260m in cash. Massachusetts-based Kaz, which creates health care and home environment solutions, markets products to retailers under brand names including Vicks and Braun (under license form Procter & Gamble) and Honeywell (under license from Honeywell), as well as its own brands: Stinger, Softheat and Kaz.
“We are very excited about welcoming the Kaz organisation into Helen of Troy. Kaz is a world class business with excellent leadership with significant potential for growth both domestically and internationally,” commented Helen of Troy’s chairman, ceo and president Gerald J Rubin, adding: “Kaz’s business and culture will continue to operate as it has in the past.”
The acquisition is expected to close by 31 December, subject to the closing of financing for the transaction and other customary closing conditions including regulatory approvals.