Prilosec OTC sponsors Fourth of July fireworks for Fort Bragg, N.C.
CINCINNATI — This Fourth of July, Prilosec OTC is paying tribute to the troops and thanking those who support this country by helping to bring back Fort Bragg’s Independence Day fireworks and celebration. Procter & Gamble and Prilosec OTC decided to partner with the most populated Army post in the United States to help the troops and Central North Carolinians celebrate.
Murad launches Skin Smoothing Polish
EL SEGUNDO, Calif. — Skin care brand Murad has announced the launch of its new Skin Smoothing Polish, a twice-weekly exfoliating scrub that works to remove embedded impurities and relieve clogged pores, providing a deeper clean for the skin.
Skin Smoothing Polish, which is part of Murad’s Pore Reform line, accelerates cell turnover, shedding dry, dead skin for clearer pores, the company stated. This regimen booster regulates oil production and improves skin imperfections to provide a smooth, refined and more even skin texture.
Ideal for those who want to take their weekly skin care routine to the next level with a cleansing boost, Skin Smoothing Polish is formulated with jojoba beads that exfoliate away dead skin cells and clear congested pores. The cleansing formula features witch hazel as an astringent to help tighten pores, cinnamon extract to balance oil production without drying skin and pomegranate seed extract to help protect against free radical damage while reducing inflammation. Rich in omega-6 oil, Skin Smoothing Polish also uses starflower and sunflower seed oils to help resist moisture loss.
Murad’s Skin Smoothing Polish is priced at $30 and is available beginning in July.
Pinnacle Foods terminates merger with Hillshire Brands
PARSIPPANY-TROY HILLS, N.J. — Pinnacle Foods announced on Monday that it has terminated its merger agreement with Hillshire Brands, originally announced May 12. Pinnacle is a producer of such branded food products as Vlasic pickles, Mrs. Butterworth syrups and Wishbone salad dressings.
Pinnacle Foods CEO Bob Gamgort said: "We're excited to continue delivering long-term value for our shareholders through our strategy of reinvigorating iconic brands. We continue to manage well through the difficult industry and category environment that we have discussed previously. The termination payment provides us with increased optionality in executing our strategy."
As a result of this termination, Pinnacle is entitled to receive a cash payment from Hillshire Brands of $163 million. Pinnacle indicated that one-time fees and expenses associated with the merger agreement, including external advisors and employee incentives, are expected to total approximately $25 million.
Pinnacle expects to pay minimal cash taxes on the payment from Hillshire and plans to use the net proceeds to reduce debt. As a result, the Pinnacle predicted net interest expense for the year to fall slightly below the $100 million previously disclosed. On a pro forma adjusted basis, which excludes the merger-related payment, fees, expenses and other items affecting comparability, Pinnacle reaffirmed its guidance for diluted EPS for 2014 in the range of $1.70 to $1.75.