Helen of Troy to acquire P&G's Pur business
EL PASO, Texas — Helen of Troy has signed a definitive agreement to acquire all assets of Procter & Gamble's water purification brand.
The acquisition of P&G's Pur Water Purification Products company includes the worldwide Pur trademark, its current and future product line, assets related to the operations of the Pur business, manufacturing equipment and more than 200 patents. Pur's products, which include faucet mount systems and filters, pitcher systems and filters, as well as refrigerator filters, are sold throughout the United States.
Financial terms of the deal, which is subject to customary closing conditions, including regulatory approvals, were not disclosed. The companies did say, however, that the deal is expected to be complete by Dec. 31.
The acquisition does not include the water purification technology that enables P&G's Children's Safe Drinking Water corporate philanthropy program, P&G noted.
Helen of Troy chairman and CEO Gerald Rubin called the acquisition of Pur "a natural fit for [the company's] healthcare/home environment segment."
"We are very excited to add the PUR business to the Helen of Troy family," Rubin said. "Globally, water purification is an important consumer need and water purity is a high profile issue. 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. Through our expertise in product sourcing and long-standing commitment to new product development, we are confident the Pur business will be an integral and important component of Helen of Troy."
Pur sales for the twelve months ending Dec. 31, 2012, are expected to exceed $110 million.