SAN FRANCISCO–(BUSINESS WIRE)–TSG Consumer Partners LLC (“TSG”), a leading strategic equity investor
in high-growth consumer brands, today announced it has entered into a
definitive agreement with Prestige Brands Holdings, Inc. (“Prestige
Brands”) (NYSE:PBH), a marketer and distributor of brand name,
over-the-counter, and household cleaning products, under which Prestige
Brands will acquire DenTek Oral Care, Inc. (“DenTek”), the worldwide
leader in innovative oral care products.
Pierre LeComte, Managing Director at TSG, said, “We have great respect
for David Fox and the other members of DenTek’s talented management
team, and have greatly valued our partnership with them. Over the last
five years, DenTek has significantly expanded its retail network across
30 countries and developed a leading position in several oral care
categories. We are confident DenTek will continue to build on its
momentum under Prestige Brands.”
David Fox, Chief Executive Officer and President of DenTek, said, “TSG
Consumer has been an outstanding partner of ours during a period of
accelerated growth at DenTek. TSG’s input regarding our new product
development, sales and marketing activities, and acquisitions was
immeasurable and we are grateful for their expert guidance.”
DenTek is a worldwide leader in innovative oral care products including
floss picks, interdental brush cleaners, dental guards, disposable
dental picks, braces care and dental repair products. DenTek products
are available in over 30 countries worldwide and in retail stores across
the U.S. including Walmart, Target, Walgreens, CVS, Rite Aid and Kroger.
The total purchase price for DenTek was $225 million on a debt-free,
cash-free basis. It is anticipated by Prestige Brands that the
transaction will close during the first half of calendar year 2016,
subject to regulatory approvals.
Sawaya Segalas served as financial advisor and Sidley Austin LLP served
as legal counsel to the sellers.
About TSG Consumer Partners
TSG Consumer Partners LLC is a leading investment firm with
approximately $3 billion of assets under management, focused exclusively
on the branded consumer sector. Since its founding in 1987, TSG has been
an active investor in the food, beverage, restaurant, beauty, personal
care, household, apparel & accessories, and ecommerce sectors.
Representative past and present partner companies include vitaminwater,
thinkThin, popchips, Muscle Milk, Yard House, REVOLVE Clothing,
Stumptown Coffee Roasters, Pabst, Planet Fitness, Smashbox Cosmetics,
Pureology, Sexy Hair, e.l.f. cosmetics and IT Cosmetics. For more
information please visit www.tsgconsumer.com.
TSG Consumer Partners
Meghan Gavigan / Nicole Moomjy
Verbinnen & Co