TARRYTOWN, N.Y. — Prestige Brands Holdings on Thursday announced that it has closed the previously announced acquisition of Hydralyte from the Hydration Pharmaceuticals Trust of Victoria, Australia. Hydralyte is one of the leading over-the-counter oral rehydration brands in Australia, and will be marketed and sold through Care Pharmaceuticals, Prestige’s subsidiary in Australia.
The transaction was finalized pursuant to the original terms of the purchase agreement announced on April 15. As previously mentioned, the acquisition of Hydralyte is projected to double the revenues of Care to approximately $50 million (AUD), and is expected to be accretive to Prestige’s earnings per share for fiscal 2015, exclusive of transaction, integration and purchase accounting items.
Prestige acquired Care in July 2013.