Helen of Troy Deals for Healthy Directions
EL PASO, Texas-In an effort to bolster its health and wellness segment, Helen of Troy has agreed to purchase Healthy Directions, a manufacturer of premium doctor-branded vitamins, minerals and supplements (VMS).
The price will be about $195 million in cash, subject to certain customer closing adjustments. The transaction is expected to close in Helen of Troy's second fiscal quarter.
The addition of Healthy Directions is projected to increase Helen of Troy's revenues by more than 10 percent on an annualized basis. Healthy Directions had net sales of about $145 million in calendar 2013, up 8.4 percent over 2012.
A Helen of Troy statement said entering the VMS category is a "logical step" for the company, building on its acquisitions of Kaz in December 2010 and Pur in December 2011. Healthy Directions' product portfolio includes products that promote heart health, digestive health, joint health, skin care and vision support.
Julien Mininberg, Helen of Troy's CEO, said, "Healthy Directions will add another strong pillar to our growing portfolio of market-leading health and wellness businesses that includes thermometers, humidifiers, vaporizers, air purifiers and water purifiers."