Prestige officially acquires 15-of-17 GSK legacy brands
IRVINGTON, N.Y. — Prestige Brands on Tuesday announced that it has completed its previously announced purchase of 15-of-the-17 brands it agreed to acquire from GlaxoSmithKline.
Prestige did not identify the two brand acquisitions not yet completed.
The former GSK brands represent approximately $200 million in annual revenues, which is projected to push Prestige annual revenues above $600 million, Prestige stated in an investor presentation in December.
Among the brands the company agreed to acquire in December are the BC, Goody’s, Stanback and Ecotrin brands of pain relievers; Beano, Gaviscon, Phazyme, Tagamet and Fiber Choice gastrointestinal brands; the Chap-et lip balm; the Debrox earwax removal brand; the Massengill feminine hygiene product; the antiseptic oral cleanser Gly-Oxide; R&C Shampoo; the pediculicide Kwellada-P; and the Sominex and Nytol sleep aid brands.
Acosta acquires Griffin to form AMG Strategic Advisors
JACKSONVILLE, Fla. — Acosta Sales and Marketing on Wednesday announced it has completed the acquisition of Griffin Strategic Advisors and will form a new business unit called AMG Strategic Advisors.
“We are pleased to announce that Griffin is joining forces with us,” Acosta president and CEO Robert Hill said. “Griffin’s capabilities in growth strategy, brand positioning, shopper and marketing insights, and operational consulting nicely dovetails with AMG’s rich insight and data analysis capabilities. This acquisition will enable us to leverage and expand our consulting capabilities to better serve our clients.”
AMG Strategic Advisors will be led by Griffin’s co-founder and CEO Carrie Shea, who will report to Acosta chief marketing officer and AMG Strategic president Ramin Eivaz.
Griffin will continue to use the Griffin Strategic Advisors name for non-consumer packaged goods clients and industries.
NPD Group sheds light on 2011 U.S., global beauty sales
PORT WASHINGTON, N.Y. — The total U.S. prestige beauty industry experienced an 11% increase in dollar sales during 2011, according to market research company The NPD Group, with skin care and fragrance sold in U.S. department stores posting double-digit gains.
“In the [United States], [United Kingdom] and China, prestige beauty is enjoying one of the most robust sales periods ever,” stated Karen Grant, VP and senior global industry analyst for The NPD Group. “In the [United States], for example, beauty sales in both the mass and prestige channels were positive month after month in 2011. And while both channels were positive, prestige beauty reigned supreme. From the stellar increases in prestige skin care to the continued gains in makeup to the double-digit rebound of fragrance, prestige beauty is experiencing a time of unprecedented growth.”
In 2011, skin care and fragrance sold in U.S. department stores both posted double-digit dollar growths of 14% and 11%, respectively, while makeup grew 9% compared with 2010.
“In continental Europe,” Grant continued, “where the prestige market is more mature, growth is more tempered, and performance among the categories has not been as dynamic as in the [United States] or [United Kingdom]. But nonetheless, prestige beauty managed to flourish thanks to brand media investment, bigger in-store animation and price promotions.”
In addition, the U.S. food/drug/mass channel experienced a 4% increase in sales for total beauty in 2011 versus 2010. Makeup sales posted the biggest increase at 8%, followed by skin care at 3%, while fragrance sales declined 5% in dollar sales compared with 2010. In national chain stores, fragrance sales grew 5%, according to NPD.