EL PASO, Texas, Sept. 2 /PRNewswire-FirstCall/ -- Helen of Troy Limited
(Nasdaq: HELE) designer, developer and worldwide marketer of brand-name
personal care products, today announced that it has signed a definitive
agreement to acquire Brut(R) for the United States, Canada and the rest of the
Western Hemisphere from Unilever (NYSE: UN, UL).
The transaction, which includes Brut(R) Fragrances, Deodorants and
Antiperspirants, is scheduled to close during the fourth quarter of calendar
2003 and is subject to regulatory approval. Idelle Labs, Ltd., a Helen of
Troy subsidiary, makers of Vitalis(R), Final Net(R), Condition 3-in1(R),
Ammens(R), Sea Breeze(R) and Vitapointe(R), will market and sell the Brut(R)
line of products. Idelle Labs' products are sold by mass merchandisers, drug
chains, grocery stores and warehouse clubs. Sales of Brut(R) products are
expected to be approximately $40 million over the next 12 months. The
transaction is expected to be accretive to Helen of Troy's earnings in the
remainder of fiscal year 2004, with an earnings per share contribution in the
range of
$.20 - $.24 for the fiscal year beginning March 1, 2004. Unilever will
receive $55 million cash in the transaction. As part of this transaction,
Helen of Troy will also receive existing inventory of the Brut(R) products.
Gerald J. Rubin, Helen of Troy's Chairman, Chief Executive Officer and
President, commenting on the acquisition of this new brand stated, "We are
very excited to add the Brut(R) line of products to our already impressive
family of brands. Brut(R) has a unique brand history, established consumer
loyalty and we believe outstanding potential for growth and expansion. It
will allow us to compete in new product categories such as men's fragrances,
deodorants and antiperspirants. We are confident that our exceptional sales
and marketing infrastructure will expand the existing Brut(R) consumer appeal
through value-added innovation and skillful execution," Rubin concluded.
Helen of Troy Limited is a leading designer, producer and marketer of
brand name personal care consumer products. The Company's products include
hair dryers, curling irons, hair setters, women's shavers, brushes, combs,
hair accessories, home hair clippers, mirrors, foot baths, body massagers,
paraffin baths, liquid hair styling products, body powder and skin care
products. The Company's products are sold by mass merchandisers, drug chains,
warehouse clubs and grocery stores under licensed trade names including Vidal
Sassoon(R), licensed from The Procter & Gamble Company, the trademark
Revlon(R), licensed from Revlon Consumer Products Corporation, Dr.
Scholl's(R), licensed from Schering-Plough HealthCare Products, Inc.,
Sunbeam(R) licensed from American Household, Inc., Sea Breeze(R), licensed
from Shisheido Corporation, and Vitapointe(R) licensed from Fizons
Corporation. Helen of Troy's owned trade names include Dazey(R), Caruso(R),
Karina(R), DCNL(TM), Nandi (TM), Isobel(TM), WaveRage(R), Vitalis(R), Final
Net(R), Ammens(R), and Condition 3-in-1(R). The Company also markets hair and
beauty care products under the Helen of Troy(R), Hot Tools(R), Hot Spa(R),
Salon Edition(R), Gallery Series(R), Wigo(R) and Ecstasy(R) trademarks to the
professional beauty salon industry.
This press release may contain certain forward-looking statements, which
are subject to change. A number of risks or uncertainties could cause actual
results to differ materially from historical or anticipated results.
Generally, the words "anticipates," "believes", "expects" and other similar
words identify forward-looking statements. The Company cautions readers to
not place undue reliance on forward-looking statements. The actual results
may differ materially from those described in any forward-looking statements.
The Company intends its forward-looking statements to speak only as of the
time of such statements, and does not undertake to update or revise them as
more information becomes available. Additional information concerning
potential factors that could affect the company's financial results are
included in the company's Form 10-K for the year ended February 28, 2003 and
the Form 10-Q for the quarter ended May 31, 2003.
SOURCE Helen of Troy Limited