EL PASO, Texas, June 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 completed the acquisition
of OXO International from WKI Holding Company, Inc. for $273 million in cash.
Financing for the transaction was provided by affiliates of Banc of America
Securities LLC.
Based in New York City, OXO International is a world leader in providing
innovative consumer products in a variety of product areas. OXO offers
approximately 500 consumer product tools in several categories, including
kitchen, cleaning, barbeque, barware, garden, automotive, storage and
organization. OXO maintains strong customer relationships with leading
specialty and department store retailers. Each year approximately
50 innovative products are introduced through the OXO Good Grips, OXO Steel,
OXO Good Grips i- Series and OXO SoftWorks product lines. Since its founding
in 1990, OXO has received numerous national and international awards, and many
OXO creations have been included in the permanent collections of several
prominent museums.
Gerald J. Rubin, Chairman, Chief Executive Officer and President, stated,
"We are pleased to announce the closing of the OXO International asset
purchase transaction, and welcome the management and employees of OXO to Helen
of Troy. We look forward to our combined organizations working together to
continue our growth and success."
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 marks including Vidal
Sassoon®, licensed from The Proctor & Gamble Company, Revlon®, licensed
from Revlon Consumer Products Corporation, Dr. Scholl's®, licensed from
Schering-Plough HealthCare Products, Inc., Sunbeam® licensed from American
Household, Inc., Sea Breeze®, licensed from Shiseido Corporation, and
Vitapointe® licensed from Sara Lee Household and Body Care UK Limited.
Helen of Troy's owned trade names include Brut®, Vitalis®, Final Net®,
Ammens®, Condition 3-in-1®, Dazey®, Caruso®, Karina®, DCNL(TM),
Nandi(TM), Isobel(TM), and WaveRage®. The Company also markets hair and
beauty care products under the Helen of Troy®, Hot Tools®, Hot Spa®,
Salon Edition®, Gallery Series®, and Wigo® 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 29, 2004.
Source:
Helen of Troy Limited