EL PASO, Texas Helen of Troy has closed on its previously reported agreement to acquire the global Infusium 23 hair care business from Procter & Gamble.
"We are pleased to add Infusium 23 to the company's existing portfolio of quality products. We have worked with [P&G] over the past month to help ensure a smooth transition of ownership for our retail customers and consumers. We are very excited about Infusium 23 and look forward to continuing its rich tradition of excellence in hair care," stated Gerald Rubin, chairman, CEO and president.
As previously reported by Drug Store News, the Infusium 23 business will be integrated into Helen of Troy?s Idelle Labs division, which currently includes such brands as Vitalis, Final Net, Vitapointe and Condition 3-in-1.
It expects Infusium 23 will generate about $40 million in sales on an annualized basis with products that will be marketed into both retail and professional trade classes. It expects the acquisition to be accretive immediately