| Prestige Brands Holdings announced it 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 $8M in cash, followed by a subsequent payment of $1M on October 28, 2010. The company will use the proceeds of the sale to pay down debt. :theflyonthewall.com |
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