IRVINGTON, NY--(Marketwire - September 20, 2010) - Blacksmith Brands Holdings, Inc. ("Blacksmith"), a portfolio company of Charlesbank Capital Partners ("Charlesbank"), announced today that it has entered into a definitive agreement with Prestige Brands Holdings, Inc. (
Blacksmith Brands was formed in 2009 by industry veteran Peter Mann, private equity professional Dana Schmaltz and Charlesbank in order to acquire a group of consumer health-care brands from Johnson & Johnson. Those brands include Efferdent Denture Cleanser®, Effergrip Denture Adhesive®, Luden's Throat Drops®, PediaCare® Infant & Children's cough/cold/allergy remedies, and NasalCrom® Allergy Spray. Blacksmith has since launched a variety of new items, many under the PediaCare brand. During the past year, the company has also invested in increased levels of advertising and promotion behind all brands, meaningfully expanded retail distribution, and created a large new product-development pipeline. As a result of such efforts, Blacksmith's revenues and operating profits have grown sharply.
"All of us at Blacksmith are extremely proud of the results we have achieved in such a short time and are equally gratified by the significant value we have created for all Blacksmith shareholders," said Peter Mann, Blacksmith's CEO and co-founder. "Our remarkable success is a testament to the skill and passion of our small, talented team of managers. Just as important has been our partnership with Charlesbank, who has played a key role in our development, both in the creation of Blacksmith and in helping develop and refine our core operating strategies."
More information about Blacksmith Brands, its products and its senior management team can be found at the company's web site www.blacksmithbrands.com.
About Charlesbank Capital Partners
Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth. For more information, visit www.charlesbank.com.
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