Playtex buys Hawaiian Tropic
This article was originally published in The Rose Sheet
Executive Summary
Playtex Products has acquired Tiki Hut Holding Company, the owners of Hawaiian Tropic for $83 mil., according to an April 19 release. Playtex projects that sales from its skin-care segment will increase to more than $340 mil. annually as a result of the deal. In 2006, net sales of Hawaiian Tropic products in the tanning, sun protection, baby and kids, sunless tanning, after-sun, burn relief and lip protection segments exceeded $110 mil., Playtex says, adding that Hawaiian Tropic previously was "the largest privately-held sun-care manufacturer in the world." The firm expects to derive annual synergies from the deal of $11 mil. The business will be fully synergized by FY 2009...