IRVINGTON, N.Y. — Prestige Brands Holdings on Thursday announced that it has entered into a definitive agreement to acquire the assets associated with the Dramamine business in the United States from McNeil Consumer Healthcare for $76 million in cash.
“The company expects to quickly and smoothly integrate Dramamine into the Prestige portfolio and drive growth through enhanced brand support,” stated Matthew Mannelly, Prestige Brands CEO.
The transaction is expected to close prior to the end of January subject to customary closing conditions.
Dramamine is the market leader in the over-the-counter motion-sickness category in the United States, with an estimated market share of approximately 32%, Prestige reported. Dramamine products are used for the prevention and treatment of nausea, vomiting and dizziness symptoms associated with motion sickness.