Helen of Troy to Acquire PUR Business from P&G
EL PASO, Texas-Helen of Troy has signed an agreement with Procter & Gamble to acquire P&G's PUR product line.
The agreement encompasses all of the assets related to the manufacturing and selling of PUR water-filtration products, including all of the stock of PUR Water Purification Products, the worldwide PUR trademark, its current and future product line, operational assets, manufacturing equipment and more than 200 patents. The transaction is expected to close by Dec. 31.
PUR sells and markets water-filtration products under its namesake brand, including faucet-mount systems and filters, pitcher systems and filters, and refrigerator filters. Sales for the 12 months ending on Dec. 31, 2012, are expected to top $110 million.
Gerald Rubin, Helen of Troy's chairman, president and CEO, said the PUR business "is a natural fit for our health-care/home environment segment. PUR adds an important brand to our strong portfolio of well-recognized and widely trusted brands for our retail partners and consumers, and is in line with our overall corporate strategy of adding businesses with value-added consumables, such as the proprietary filters that are important in this category."