Helen of Troy buying Kaz for $260m
EL PASO, Texas -- Consumer products company Helen of Troy Ltd. said Thursday it is buying health care and consumer products provider Kaz Inc. for $260 million.
Kaz, based in Southborough, markets products to retailers under brands such as Vicks and Braun under license from Procter & Gamble Co. Helen of Troy's portfolio of products includes Brut, Pert Plus, Sure and Vitalis and it has licenses to sell Vidal Sassoon and Dr. Scholl's products.
The acquisition will give Helen of Troy combined annual revenue of more than $1.1 billion in fiscal 2012. and is expected to add to Helen of Troy's earnings in the fiscal year ending Feb. 29, 2012.
The deal is expected to close by Dec. 31. Helen of Troy plans to pay for the transaction through existing working capital and debt financing committed by Bank of America.