Acquisition excludes technology used in P&G Children’s Safe Drinking Water Program
Helen of Troy Ltd. announced it entered into a definitive agreement with the Procter & Gamble Co. (P&G) to acquire all assets related to the manufacturing and selling of products marketed under the PUR trademark, including all of the outstanding stock of PUR Water Purification Products Inc. The acquisition is expected to close by Dec. 31, 2011, subject to customary closing conditions, including regulatory approvals.
The PUR business sells and markets a variety of high-quality water filtration products under its namesake PUR brand in the growing water purification category. PUR's products include faucet mount systems and filters, pitcher systems and filters, and refrigerator filters.
"We are very excited to add the PUR business to the Helen of Troy family. Globally, water purification is an important consumer need and water purity is a high profile issue. The residential water purification category has seen strong organic growth in North America in recent years… The acquisition is a natural fit for our Healthcare/Home Environment segment,” said Gerald Rubin, CEO and president of Helen of Troy Ltd.
The acquisition does not include the water purification technology that enables P&G's Children's Safe Drinking Water Program. The powder product and patents used in that program will remain with P&G, who will rebrand it under the P&G corporate name, the first time in more than 100 years that P&G has given its own name to a product.