Prestige Brands to divest its household cleaning business

|About: Prestige Brands Holdings,... (PBH)|By:, SA News Editor

Prestige Brands (PBH -0.3%) to divest its household cleaning business for $69M.

The transaction includes Comet, Spic and Span, Cinch, Chore Boy and Chlorinol household product brands

The Company plans to use the net proceeds from the sale to pay down debt.

The cleaning portfolio contributed $80.6M. 8% of total sales in FY18; in FY19 the business is expected to generate sales of ~$78M EPS of ~$0.17

Subscribe for full text news in your inbox