Helen of Troy completes acquisition of Pur from P&G
EL PASO, Texas — Helen of Troy has become the new owner of the Pur water purification products business, the company announced Tuesday.
The company previously announced its intent to acquire Pur Water Purification Products company — including the worldwide Pur trademark, its current and future product line, assets related to the operations of the Pur business, manufacturing equipment and more than 200 patents — from Procter & Gamble in December.
The acquisition, Helen of Troy and P&G said, does not include P&G’s Children’s Safe Drinking Water corporate philanthropy program, adding that the powder product and patents used in that program will remain with P&G, who will transition that effort to the P&G corporate name.
Helen of Troy chairman, president and CEO Gerald Rubin said it expects the Pur business will garner $110 million in sales on an annual basis.
"We expect to quickly integrate the Pur brands into our healthcare/home environment segment, where it is a natural fit," Rubin said. "The category shares the segment’s current customer base, target audience, and product focus areas. Pur adds an important brand to our strong portfolio of well-recognized and widely-trusted brands for our retail partners and consumers, and is in line with our overall corporate strategy of adding businesses with value-added consumables, such as the proprietary filters that are important in this category."
Sara Lee acquires Tea Forté
UTRECHT, Netherlands — Sara Lee has acquired an ultra-premium tea business based in Massachusetts.
The company said it acquired Tea Forté, a company founded in 2003 by former Museum of Modern Art designer Peter Hewitt, for an undisclosed sum. The acquisition, Sara Lee said, strategically fits the company’s strategy to spin off its CoffeeTeaCo business. CoffeeTeaCo will retain the current management team of Tea Forté to run the business independently before integrating it into its international coffee and tea operations, Sara Lee noted.
"Acquiring Tea Forté fits perfectly into our strategy to spin off ‘CoffeeTeaCo’ as a pure-play coffee and tea company poised for strong growth," said Jan Bennink, executive chairman of the board at Sara Lee.
Dulce de Leche Cheerios debuts on store shelves
MINNEAPOLIS — Cheerios is sweetening up the cereal aisle with its latest flavor.
New Dulce de Leche Cheerios combines the nutrition of Cheerios and a caramel flavor, parent company General Mills said.
“We are really excited about our new flavor as it combines a hint of the delicious caramel flavor rooted in Latin American culture to the already great-tasting, wholesome Cheerios we all know and love,” said Jim Wilson for General Mills. “And the best part of our new breakfast treat is that Dulce de Leche Cheerios provides a healthy start to your day like any of our other Cheerios varieties.”
Dulce de Leche Cheerios cereal is now available in grocers’ cereal aisles nationwide for a suggested retail price of $3.99.