Helen Of Troy Acquires Vicks VapoSteam U.S. Business From P&G

(RTTNews) - Helen of Troy Limited (HELE) announced that it has, through its subsidiaries, acquired the Vicks VapoSteam U.S. liquid inhalant business from The Procter & Gamble Company (PG), which includes a fully paid-up license to the Vicks VapoSteam trademarks.

The Company has also acquired a fully paid-up license of P&G's Vicks VapoPad trademarks for scent pads in the United States. The vast majority of Vicks VapoSteam and VapoPads are used in Vicks humidifiers, vaporizers and other health care devices already marketed by Helen of Troy.

The transaction includes the acquisition of certain production assets and the inventory related to the above categories, as well as the right to use related intellectual property. The VapoSteam acquisition is expected to be financed with the Company's revolving credit facility.

The United States Vicks VapoSteam business associated with the transaction had annual revenues of approximately $10 million in calendar year 2014.

Julien Mininberg, Chief Executive Officer, said, "Acquiring the U.S. rights to Vicks VapoSteam makes us a leading player in the inhalant category.......With excellent historical gross margins above our Company average, these transactions are expected to further enhance the profitability of our Healthcare/Home Environment segment, add incremental cash flow to Helen of Troy at an attractive valuation, and be accretive in fiscal year 2016."