Helen of Troy Completes Kaz Acquisition
January 3, 2011,
EL PASO, Texas-Helen of Troy has closed its $260 million purchase of Kaz, thus marking the personal-care products giant's entry into the health-care and home-environment sectors.
The deal moves Kaz's lineup of vaporizers, humidifiers, thermometers, blood-pressure monitors, hot/cold health-care therapy products, air purifiers, heaters, fans, dehumidifiers and lawn-and-garden products under the Helen of Troy umbrella. Sales of Kaz's products are expected to reach $400 million for the 2011 calendar year, according to a statement from Helen of Troy.
Reiterating what was said in last month's statement announcing the acquisition, Gerald Rubin, Helen of Troy's chairman, president and chief executive officer, said the current Kaz management--led by CEO Julien Mininberg--and its employees will remain in their current posts.