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April 25, 2014
06:39 EDTPBHPrestige Brands agrees to acquire Insight Pharmaceuticals for $750M
Prestige Brands announced that it has entered into a definitive agreement to acquire Insight Pharmaceuticals, a marketer and distributor of feminine care and other over-the-counter healthcare products, for $750M in cash. As part of the transaction, Prestige will acquire tax attributes with a present value of approximately $100M, which results in an effective purchase price of approximately $650M. This transaction, combined with the Hydralyte transaction, is expected to result in pro forma revenues and adjusted EBITDA of approximately $800M and $300M, respectively for the company in FY15. The company anticipates closing on this transaction during the first half of this fiscal year, subject to customary closing conditions, including clearance under the Hart-Scott Rodino Antitrust Improvements Act of 1976. Financing for the transaction is expected from a combination of cash on the balance sheet, use of Prestige’s revolving credit agreement, and an add-on to its existing term loan. Sawaya Segalas, & Co., LLC acted as exclusive financial advisor to Prestige Brands on this transaction.
News For PBH From The Last 14 Days
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November 23, 2015
06:40 EDTPBHPrestige Brands to host conference call
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06:31 EDTPBHPrestige Brands agrees to acquire DenTek Holdings for $225M
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November 12, 2015
10:25 EDTPBHPrestige Brands repeats view of FY16 adjusted EPS at high end of $2.05-$2.10
Consensus $2.11. Repeats call for FY16 revenue growth of 10%-11%, consensus $784.6M. Sees FY16 free cash flow of $175M or more. Guidance issued on November 5 repeated in slides for Raymond James Fall Investor Conference.

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