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Ideavillage Products to market, distribute Criss Angel magic kit

BY Allison Cerra

WAYNE, N.J. Famed illusionist and star of A&E’s “MindFreak” Criss Angel has partnered with Ideavillage Products to market and distribute his Platinum MindFreak magic kit.

The new magic line is geared toward people of all ages. The kit consists of more than 250 MindFreak tricks, including an instruction manual and DVD, as well as 6 individual MindFreak tricks with instructions. The kit is slated hit retail shelves next month.

“Criss Angel is a world class performing artist. It’s what he does best. TV is all about magic demonstrations which make it the perfect venue for introducing Criss’ new kit,” said Anand Khubani, Ideavillage Products CEO and founder. “Ideavillage is a leading marketer, product manufacturer, and distributor. The partnership just made sense because it allows both our organizations to use our talent and channel our energies in the right direction.”

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Rite Aid announces financial initiatives

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid on Monday announced a pair of initiatives concerning the company’s credit facilities.

First, the Camp Hill, Pa.-based druggist intends to offer a $650 million aggregate principal amount of senior secured notes due 2020. The notes will be unsecured, unsubordinated obligations of Rite Aid and will be guaranteed by substantially all of Rite Aid’s subsidiaries. The guarantees will be secured on a senior lien basis.

The proceeds of the offering will be used, together with available cash, to repay and retire Rite Aid’s $648 million Tranche 4 Term Loan due 2015 under its senior secured credit facility, and to fund related fees and expenses.

Rite Aid also announced its intention to amend or replace its $1.2 billion existing revolving credit facility due 2012 with a new $1.2 billion revolving credit facility due 2015, for which Rite Aid had obtained $1.1 billion in commitments as of Aug. 6. The new revolving credit facility is expected to have reduced pricing and a five-year maturity, although the maturity shall be April 18, 2014, in the event that Rite Aid does not repay, refinance or otherwise extend the remaining term loans under its senior credit facility prior to that time and meets certain other conditions. Rite Aid also is seeking amendments to provide more flexibility under certain covenants in its senior credit facility.

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PUR launches new faucet filter

BY Allison Cerra

CINCINNATI PUR, a Procter & Gamble brand, is makng access to clean drinking water easier than ever.

PUR’s newest innovation, the one-click faucet water filter, offers up to 100 gallons of great-tasting drinking water with just one click. The one-click faucet mount also offers a simple way to help provide clean drinking water to those who need it the most, the brand said. For each PUR one-click faucet mount purchase, one week of clean drinking water is provided to children in the developing world through PUR’s continued partnership with P&G’s Children’s Safe Drinking Water program.

The new PUR one-click faucet water filter can be purchased nationwide at major retailers. The systems are available in vertical and horizontal models in white, white with chrome, chrome and stainless finishes. Prices vary depending on retailer and model, ranging on average from $30 to $50.

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