Helen of Troy Buys PUR Water Filters from P&G Tuesday, December 6, 3:37 PM ET
Personal care, health care and household products developer Helen of Troy (NASDAQ:
HELE) said today it has agreed to acquire the PUR Water Purification business from Procter & Gamble (NYSE: PG).
The companies did not disclose financial terms of the deal.
The acquisition includes the PUR trademark, its current and future product line, assets related to the operations of the business, manufacturing equipment, and more than 200 patents.
PUR's sales are expected to exceed $110 million for the twelve months ending December 31, 2012. The brand competes with Clorox's (NYSE:
CLX) Brita water filters, among others.
Helen of Troy said the transaction is expected to close by the end of the month, and will be immediately accretive to earnings.
Helen of Troy shares are ticking higher Tuesday.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Helen of Troy Buys PUR Water Filters from P&G
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