Energizer completes acquisition of Playtex
ST. LOUIS Energizer Holdings has completed its acquisition of Playtex Products, a move that expands its presence in the personal care segment.
The deal was for $18.30 per share in cash plus the assumption of debt. Shareholders of Playtex approved the deal on Sept. 27.
Energizer also announced that, under the previously announced tender offer for the outstanding 8 percent senior secured notes due 2011 and 9-3/8 percent senior subordinated notes due 2011 of Playtex, the company has purchased $286.3 million of the 8 percent notes, representing 98.7 percent of the outstanding notes, and $276.7 million of the 9-3/8 percent notes, representing 95.8 percent of the outstanding notes. Energizer has deposited funds with the trustees for each issue in order to defease the remaining notes. The 8 percent notes have been defeased to a March 3, 2008 redemption date and the 9-3/8 percent notes have been defeased to an Oct. 12, 2007 redemption date. The tender offer remains open under 5 p.m. EST on Oct. 3, 2007.
Energizer stated that the funds required for the acquisition and the tender offer are being provided primarily from Energizer’s previously announced $1.5 billion term loan agreement entered into on Sept. 14. The company expects that the term loan will be refinanced in the private placement market or through other credit facilities over the next several months.
Playtex Products’ portfolio includes Banana Boat, Hawaiian Tropic, Playtex tampons, Wet Ones, Playtex gloves and Playtex infant feeding products.
P&G sues Ultreo claiming false advertising
CINCINNATI Procter & Gamble has filed a lawsuit against maker and distributor of “ultrasound toothbrushes” Ultreo alleging that Ultreo is misleading consumers and dental professionals through false advertising.
According to the lawsuit, the advertising falsely claims that the Ultreo Ultrasound toothbrush, with is ultrasound “waveguide” technology, creates bubbles that can remove plaque bacteria in the mouth. The company claims that the ultrasound feature and bubbles it creates can remove plaque that bristle action alone can leave behind.
In response to the suit, Ultreo issued a statement that read: “We deny the claims made by P&G regarding the way we market our patented ultrasound technology. Ultreo’s effectiveness is supported by strong scientific evidence including a variety of human clinical studies. The product is enjoying a groundswell of excitement from consumers and dental professionals alike. In a recent study, eight out of 10 consumers who used Ultreo said they would switch to Ultreo from their current power toothbrush. While we prefer to compete in the marketplace, we are prepared for a vigorous legal response to P&G’s complaint.”
In its lawsuit, P&G is seeking to stop Ultreo from making the alleged false claims and to issue corrective advertising and literature. P&G also is looking to recover damages for Ultreo’s alleged false advertising and unfair competition.
According to P&G, its own study showed that turning off Ultreo actually removed more plaque that using the ultrasound “waveguide” on, per the manufacturer’s instructions. P&G also claims that Ultreo has provided no clinical studies, where the toothbrush has actually been used by consumers, to support its claims that the ultrasound component of the brush removes plaque in the mouth.
GSK and ADA spearhead oral health initiative
SAN FRANCISCO Recognizing the associations between oral health and overall health, GlaxoSmithKline Consumer Healthcare, the American Dental Association and the ADA Foundation have introduced a new initiative targeting oral health of older Americans.
The program, dubbed OralLongevity, provides older adults, their families, caregivers and dental professionals with education and other free resources to boost the awareness and need for better oral health.
According to a recent report from the Centers for Disease Control and Prevention, more adults are keeping their natural teeth longer well beyond the age of 65. However, changes in physical and mental functions could hamper some older adults from taking proper care of their teeth and gums, increasing the risk of dental disease that could complicate other health conditions.
To help inform consumers, the Web site offers free, downloadable dental tips. Consumers also can download at www.orallongevity.ada.org the free OralLongevity DVD and brochure that was unveiled to nearly 50,000 dental professionals attending the ADA’s 148th Annual Session.
Dental problems can cause pain and suffering as well as difficulty in speaking, chewing and swallowing. Older adults can also suffer from dry mouth, resulting from certain medications used to treat other health conditions. Complications associated with medical conditions can impact the ability to maintain good oral health.
“For example, dry mouth and sensitive teeth can be managed and relieved through dental care, behavioral changes and over-the-counter products,” stated Dr. Richard Price, ADA consumer advisor and retired dentist. “The dentist is a key part of your health care team to advise you on individual oral health needs as you age.”