Prestige Brands buys Care
July 12, 2013
AUSTRALIAN OTC distributor
Care Pharmaceuticals has been
purchased by US-based Prestige
Brands Holdings, which says it
plans to use the new acquisition
to further build its Asia-Pacific
footprint.
Brands covered by the deal
include Fess, Painstop, Rectogesic,
Maybe Baby and Fab nutritional
supplements, and build on
Prestige’s existing local brands such
as Murine and Clear Eyes.
The deal is effective from 01 Jul,
with a statement from Prestige
confirming that Care’s annual
revenue is about $20m.
Prestige ceo Matthew M.
Mannelly said the acquisition was a
“great strategic fit.
“Care operates under the same
business model as Prestige, has an
impressive portfolio of well-known
brands and a track record of growth
and innovation,” he said.
The combined local business will
operate under the leadership of
Care ceo Malcolm Yesner.
The above article was sent to subscribers in Pharmacy Daily's issue from 12 Jul 13To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 12 Jul 13