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Benzinga
Benzinga
Business
Shivani Kumaresan

Helen Of Troy Strengths Beauty Platform Via Curlsmith Prestige Hair Care Products Acquisition

HELE Helen Of Troy (Organization) Nasdaq
  • Helen Of Troy Limited (NASDAQ:HELE) subsidiary has acquired Recipe Products Ltd for $150 million in cash.
  • Recipe's Curlsmith is a brand with a range of conditioners, shampoos, and co-washes created for curly and wavy hair.
  • The company expects the acquisition to be immediately accretive to consolidated and Beauty segment measures such as sales growth rate, gross profit margin, adjusted EBITDA margin, adjusted EPS, and cash flow from operations.
  • "It aligns with a key Phase II M&A objective of tucking in early-stage, fast-growing, and disruptive innovators to complement our portfolio of Leadership Brands," said CEO Julien R. Mininberg.
  • Helen of Troy held $44.34 in cash and equivalents as of November 30, 2021.
  • Price Action: HELE shares are trading lower by 0.71% at $206.51 on Monday's last check.
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