PL Developments expands product offering into store brand liquids with Aaron Industries acquisition
WESTBURY, N.Y. — PL Developments on Monday signed a definitive agreement to acquire Aaron Industries, manufacturer and distributor of liquid-dose private-label over-the-counter, pharmaceutical and consumer healthcare products for the retail and packaged goods industry.
Terms of the deal were not disclosed. The agreement is subject to government approval under the Hart-Scott-Rodino Act. It is anticipated the deal will close in late November.
“PL Development’s preeminent position in the solid-dose market segment, combined with Aaron Industries’ strength in liquids and first-aid products, allows us to provide greater product depth and choices for the growing needs of our retail partners and the consumer packaged goods industry," stated Mitch Singer, PL Developments president and CEO.
“This is a rare combination of two industry leaders with complementary product lines that fit perfectly together,” added Evan Singer, EVP corporate development for PL Developments. “Both companies have experienced strong growth in recent years and have become important suppliers to our retail and consumer packaged goods customers," he said. "Now, with an expanded array of products and capabilities, we see PL Developments establishing more meaningful relationships with our clients by offering a broader product selection and by utilizing our best-in-class operations, supply-chain and quality systems to provide our clients with a scalable and efficient solution for their store brands.
The combination of the two companies will create a new force among private-label providers to mass merchandisers, drug stores, club stores, dollar stores, grocery chains, convenience stores, drug wholesalers and the entire consumer packaged goods industries. As a result of the acquisition, PL Developments will supply products to retailers worth more than $1 billion of sales to consumers encompassing more than 3,000 SKUs of solid- and liquid-dose OTC medicines and consumer healthcare products.
Aaron Industries’ operations will be completely integrated into PL Developments, with combined company headquarters in Westbury, N.Y. Its manufacturing and distribution facilities will remain in Clinton, S.C., and Los Angeles.
PL Developments and Aaron Industries serve most of the nation’s largest retailers, including WalMart, Sam’s Club, Costco, Walgreens, CVS/Caremark, Rite Aid, Kroger, Topco, Target, Dollar General and Family Dollar.
CHPA advocates restoring OTC eligibility under flexible spending accounts
WASHINGTON — The Consumer Healthcare Products Association on Friday submitted a letter to U.S. Treasury Secretary Jacob Lew, thanking the Administration for its recent efforts to enhance flexible savings arrangements’ benefits, the association announced. The association is asking the Administration to take a further step and support restoring over-the-counter medicines’ eligibility under tax-preferred accounts including FSAs and health savings accounts.
“We applaud the Administration for its efforts to revisit options that serve in the best interest of consumers meeting their healthcare needs,” Scott Melville, CHPA president and CEO said. “While the recent announcement allowing consumers to roll over as much $500 in their flexible spending arrangements is a step in the right direction, more must be done," he said. “We are calling on Congress and the Administration to lift the restrictions on consumers’ ability to use tax-preferred accounts to purchase OTC medicines that millions rely on for their healthcare needs. Reversing this restriction and restoring eligibility of OTC medicines under FSAs and HSAs is a straightforward step that will assist American families in securing affordable healthcare.”
CHPA supports the bipartisan, bicameral Restoring Access to Medication Act (S. 1647/H.R. 2835) introduced by Sens. Mary Landrieu, D-La., and Pat Roberts, R-Kan., in the Senate and Reps. Lynn Jenkins, R-Kan., and John Barrow, D-Ga., in the House of Representatives. The association’s letter urged the Administration to support this measure.
FDA approves Sasmar’s sperm-friendly lubricant
CHICAGO — The Food and Drug Administration has approved an OTC personal lubricant that helps couples conceive more easily.
Sasmar announced Friday the FDA approval of Conceive Plus, described as an isotonic, fertility-friendly personal lubricant that helps increase a woman’s chances of getting pregnant naturally. The patent-pending formula is pH balanced to mimic fertile fluids and semen and contains minerals helpful to fertilization.
The company said that other lubricants on the market have a negative effect on sperm motility and sperm chromatin integrity, which hinders the fertilization process and the chances of conception.