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Beauty Industry

Prestige Sells Three Shampoo Brands

Prell, Denorex and Zincon on the move for $9 million.

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By: Jamie Matusow

Editor-in-Chief

Prestige Brands Holdings, Inc. has sold its three shampoo businesses to Ultimark Products. The transaction includes Prell Shampoo, Denorex Dandruff Shampoo and Zincon Dandruff Shampoo from the company’s personal care segment. These brands collectively represent approximately 2-3% of annual company sales.

Terms of the agreement include an upfront payment of $8 million in cash, followed by a subsequent payment of $1 million on Oct. 28, 2010. The company will use the proceeds of the sale to pay down debt.

“The successful sale of these businesses allows us to increase focus on our two larger segments, over-the-counter healthcare and household cleaning products, to enhance shareholder value,” said Matthew Mannelly, company president and chief executive officer

Prestige markets beauty brands such as Cutex nail polish remover. Ultimark has multiple product distribution channels throughout North America including electronic retailing, direct to consumer and major retailers.

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