EX-99.1
2
a05-19250_2ex99d1.htm
EXHIBIT 99
Exhibit 99.1
Press Release
For immediate
release
PRESTIGE BRANDS HOLDINGS, INC.
ANNOUNCES COMPLETION OF THE
ACQUISITION OF CHORE BOY® BRAND FROM
RECKITT BENCKISER & ANNOUNCES DATE
FOR SECOND QUARTER EARNINGS
Irvington, New York, November 1, 2005 -
Prestige
Brands Holdings, Inc. (NYSE:PBH) today reported the completion of the
previously announced acquisition of the Chore Boy® line of metal cleaning pads,
scrubbing sponges, and non-metal soap pads from Reckitt Benckiser, Inc., a
U.K. based global consumer products manufacturer and marketer. Prestige
originally announced the agreement on July 27, 2005, and said that they
expected to close early fall. The acquisition was completed on October 28,
2005 at a purchase price of $22,250,000.
The
Chore Boy brand, which is sold primarily in the U.S. and Canada, will become
part of the Company's household products segment of business, which currently
accounts for approximately 35% of net sales. The line includes the #1 selling
copper scrubber and nine other items. The Company anticipates this acquisition
will be modestly accretive to earnings per share this fiscal year. Trailing
twelve month net sales for the Chore Boy line were approximately $14 million.
"The
acquisition is an excellent strategic addition to our product line", according
to Peter C. Mann, Chairman of the Board and Chief Executive Officer for
Prestige Brands, Inc. "Chore Boy is a growing brand with an 84 year
history in the scouring pad and cleaning accessories categories. We believe it
will benefit from our focus, and create synergies for this business segment".
Prestige
also markets the Comet®, Spic and Span® and Cinch® brands of household cleaning
products. Other brands marketed by the Company include Compound W® wart
treatment, Chloraseptic® sore throat treatment, New-Skin® liquid bandage, Clear
eyes®
and
Murine® eye care products, Little Remedies® pediatric over-the-counter
products, Cutex® nail polish remover, and other well-known consumer products.
Fiscal
Second Quarter Earnings & Conference Call
The
Company will report its fiscal second quarter sales and earnings on Monday, November 14,
2005 at 7am. Management will host a conference call for analysts at 8:30am.
Details of the call are forthcoming.
All
statements, other than statements of historical fact included in this release,
are forward-looking statements, as that term is defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements generally
can be identified by the use of forward-looking terminology such as "assumptions,"
"target", "guidance", "outlook", "plans", "projection", "may", "will", "would,"
"expect", "intend", "estimate", "anticipate", "believe", "potential" or "continue"
(or the negative or other derivatives of each of these terms) or similar terminology.
There are certain factors that could cause actual results to differ materially
from those anticipated by some of the statements made. These include: (1) the ability to
achieve business plans; (2) successfully executing, managing and integrating
key acquisitions (including the Chore Boy acquisition; (3) the ability to
manage and maintain key customer relationships; (4) the ability to
maintain key manufacturing and supply sources; (5) the ability to
successfully manage regulatory, tax and legal matters (including product
liability matters), and to resolve pending matters within current estimates; (6) the
ability to successfully manage increases in the prices of raw materials used to
make the company's products; (7) the ability to stay close to consumers in
an era of increased media fragmentation; and (8) the ability to stay on
the leading edge of innovation. For additional information concerning factors
that could cause actual results to materially differ from those projected
herein, please refer to our most recent 10-K, 10-Q and 8-K reports.
########
Contact:
Dean Siegal,
914-524-6819

EX - 99 . 1 2 a05 - 19250 _ 2ex99d1 . htm EXHIBIT 99 Exhibit 99 . 1 Press Release For immediate release PRESTIGE BRANDS HOLDINGS , INC . ANNOUNCES COMPLETION OF THE ACQUISITION OF CHORE BOY ® BRAND FROM RECKITT BENCKISER & ANNOUNCES DATE FOR SECOND QUARTER EARNINGS Irvington , New York , November 1 , 2005 - Prestige Brands Holdings , Inc . ( NYSE : PBH ) today reported the completion of the previously announced acquisition of the Chore Boy ® line of metal cleaning pads , scrubbing sponges , and non - metal soap pads from Reckitt Benckiser , Inc . , a U . K . based global consumer products manufacturer and marketer . Prestige originally announced the agreement on July 27 , 2005 , and said that they expected to close early fall . The acquisition was completed on October 28 , 2005 at a purchase price of $ 22,250,000 . The Chore Boy brand , which is sold primarily in the U . S . and Canada , will become part of the Company 's household products segment of business , which currently accounts for approximately 35 % of net sales . The line includes the # 1 selling copper scrubber and nine other items . The Company anticipates this acquisition will be modestly accretive to earnings per share this fiscal year . Trailing twelve month net sales for the Chore Boy line were approximately $ 14 million . " The acquisition is an excellent strategic addition to our product line " , according to Peter C . Mann , Chairman of the Board and Chief Executive Officer for Prestige Brands , Inc . " Chore Boy is a growing brand with an 84 year history in the scouring pad and cleaning accessories categories . We believe it will benefit from our focus , and create synergies for this business segment " . Prestige also markets the Comet ® , Spic and Span ® and Cinch ® brands of household cleaning products . Other brands marketed by the Company include Compound W ® wart treatment , Chloraseptic ® sore throat treatment , New - Skin ® liquid bandage , Clear eyes ® and Murine ® eye care products , Little Remedies ® pediatric over - the - counter products , Cutex ® nail polish remover , and other well - known consumer products . Fiscal Second Quarter Earnings & Conference Call The Company will report its fiscal second quarter sales and earnings on Monday , November 14 , 2005 at 7 am . Management will host a conference call for analysts at 8 : 30 am . Details of the call are forthcoming . All statements , other than statements of historical fact included in this release , are forward - looking statements , as that term is defined in the Private Securities Litigation Reform Act of 1995 . Forward - looking statements generally can be identified by the use of forward - looking terminology such as " assumptions , " " target " , " guidance " , " outlook " , " plans " , " projection " , " may " , " will " , " would , " " expect " , " intend " , " estimate " , " anticipate " , " believe " , " potential " or " continue " ( or the negative or other derivatives of each of these terms ) or similar terminology . There are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made . These include : ( 1 ) the ability to achieve business plans ; ( 2 ) successfully executing , managing and integrating key acquisitions ( including the Chore Boy acquisition ; ( 3 ) the ability to manage and maintain key customer relationships ; ( 4 ) the ability to maintain key manufacturing and supply sources ; ( 5 ) the ability to successfully manage regulatory , tax and legal matters ( including product liability matters ) , and to resolve pending matters within current estimates ; ( 6 ) the ability to successfully manage increases in the prices of raw materials used to make the company 's products ; ( 7 ) the ability to stay close to consumers in an era of increased media fragmentation ; and ( 8 ) the ability to stay on the leading edge of innovation . For additional information concerning factors that could cause actual results to materially differ from those projected herein , please refer to our most recent 10 - K , 10 - Q and 8 - K reports . # # # # # # # # Contact : Dean Siegal , 914 - 524 - 6819